By the way... One of you asked what I meant by "sell the news" yesterday...
I was wondering if anyone would.
That was the back half of the saying, "Buy the rumor... Sell the news."
Meaning... The market is what's called a discounting mechanism. The prices you see in the market each day reflect traders trying to assign a value to the future cashflows expected to be generated by a company.
In other words, traders are trying to make a judgement about how a company is going to perform in the future.
In the case of the tax relief news... The market has been anticipating that for months...
It's the rumor traders have been buying... pushing the market higher.
When the actual news that's been "rumored" finally comes out, it tends to underwhelm... and traders begin to "sell the news."
And that may be exactly what we're seeing here. | 
