Microsoft/Yahoo Merger Rumor – Someone Made a Fortune

One of the reasons I switched to long-term trend following was the trading noise was making me crazy. Psychologically, I was not built for trading.

I feel bad for blogging the Yahoo/Microsoft merger announcement, because I was contributing to the noise and I really could have cared less. I did think it would benefit Baidu which was up almost 4 points at one point. In the end, it looks like just a rumor and Baidu gave back most of the gains.

It does suck that The New York Post duped so many people if that’s the case.

I never read newspapers, but I read smart bloggers that read those newspapers. For me, it is more efficient, especially now that I don’t trade.

I agree with The Seattle Times that we are owed a follow-up story .

As Curtis Faith mentioned in his Wallstrip interview on Friday, there is more noise than ever in the markets and the stakes are high to win with so many hedge funds.

Interested to see if the SEC starts probing the Yahoo 30 calls. They should.