I will summarize the article in a few sentences of my own:

After having held marathon negotiating sessions with Iraq, James Baker held a press conference on Wednesday afternoon. At exactly 1:56:44 P.M., he started his 5th sentence with the word “regrettably”, which set off an immediate fury of sell orders in stocks and bonds, and buy orders in oil and gold. Traders never even waited for the rest of the sentence, let alone the rest of conference. In less than 10 minutes, oil futures rose $7.20 — more than a 30% increase in 10 minutes!

Of course, while the fastest of the traders made a lot of money that day, by the end of the month, everything had reversed and then some. This was an important lesson to me and one I did not soon forget…