Broker Data, page-28

The only lessons worth having are those which are reinforced with a degree of pain or loss.

These specs usually run on the following

1. Expectation of something happening - ie SRT in the run up to their acquisition (Bagger for those that got in early enough

2. Great announcement (obviously what ODN did on the Grid announcement)

3. Post news in the no mans land where you are now is traders heaven. Stock gets oversold, you can make a few pips consistently trading the channels.

Once you learn this formula this end of the market is more tolerable.