Today we have a purely speculative idea based on past history. Since Sony foolishly decided to litigate their customer base for modifying their own hardware they are now in the crosshairs of Anonymous. Shortly after Anonymous turned their attention to Bank of America, there was a market pull back.
Now that Anonymous has turned their attention to Sony we might be able to play the same strategy, especially if Anonymous manages to interfere with any revenue generation. If we look at a recent daily chart of Sony we can see that it formed a descending triangle with a break down below support. Today it continued below a double top on 3/14 & 3/15. In after hours trading Sony continued lower.
If Sony opens lower tomorrow we might have a short opportunity. Hopefully as time goes on Anonymous will learn to coordinate their DDOS attacks against public companies with weak chart patterns at key support and resistance levels for maximum impact. That will make it easier to get a larger move if Anonymous’ target is resting at support.
Regardless of whether or not you support Anonymous, they do serve a purpose in the information security ecosystem. As security professionals we can see how effective anti-DDOS hardware is by observing the results of Anonymous’ attacks. As traders, we can take advantage of the news of Anonymous’ DDOS attacks and play the short side of the trade. Charlie Sheen would call that bi-winning!
He who is prudent and lies in wait for an enemy who is not, will be victorious. – Sun Tzu