I don’t normally take InTrade very seriously, but as a former daytrader and not just as a longtime confirmed non-fan of the Mittster, I find this kind of price move in a contract something to behold.
Closing Prices chart as of High Noon PST – Mitt Romney to be elected President in 2012:
There’s usually a tradable bounce, sometimes a breathtaking recovery move, in a heavily traded stock undergoing this kind of collapse. That was one of the few trade set-ups, and one of the most exciting to act on, that I ever got any good at – but I’m not convinced at all that InTrade is the kind of market where that sort of thing is doable.
I don’t understand. what does the chart say that people are trying to trade Romney for?