Where to get comprehensive news in the morning for stocks?
I'm trying to apply intraday fundamentals to prepare for the market each morning. I go to briefing.com and look at their "story stocks". Usually there's half a dozen a day. But when I go through charts, I see big action happening because of news that wasn't listed as their "story stocks". Can anyone show me a page on that or another site where I can sit through and go through news after news?
Yes, but with fresh news, new support levels are made and broken as traders are arguing to find a fair price. There are good chances to make plays off of these levels as buyers and sellers fight each other, especially if the news isn't so black or white. Or on second days, where some sellers think the stock is overpriced after the news event.
This was discussed in the chat. It started with Brian asking: "What did BOJ say this morning?"
To which there was a reply: BOJ didn't say, they just did, and CNBC app on iPhone sent out alerts, roughly 2AM EST (hint... sign up for their alerts)
To which I replied:
.. and not just CNBC... the market sent out subtle indications of this if watching carefully... I am a great fan of using the market itself... leave the why to the pundits and just observe the when and trade!
Thanks for the insight guys. I do agree that it's ultimately the traders who interpret the news that make the price what it is. But, understanding the news can illustrate your story and produce more low risk/reward setups and have fewer shakeouts that hit your stops.
For example, with earning reports, you can see in the premarket and/or aftermarket what the reaction was. If the news was negative, did the market react accordingly and sold off? Did it rally instead as it was interpreted as not as bad as suspected? If the stars line up, you can make a reaction of what traders and institutional buyers think of a stock and be part of a trade that makes big order flow.
In this chart, TGT annouced lower than expected earnings. Negative reaction as follows. Now, the opening drive @ 9:30. Did price go down too low in the premarket? The first bar is quite bullish. Than, we can look and see if it can go up further and create support lvl in accordance to those made in the premarket. Instead, TGT, rallied lower. The pullbacks weren't very well defined, but it gave a chance to have a few light shares to go short. There were a few times to go in short to get good risk/reward setups before lunchtime.
During lunchtime, it was a bit trickier, but I could see the same behavior from the negative reaction in the premarket, opening, with a seller who would wack the bids above 20c. Because of the low volume, I scalped around my core. (though above 30c, I made the mistake of being to big and knowing it could go up near 50c).
I understand that most ppl here trade futures, and those of you who trade stocks, swing trade. But, I have found intraday, knowing the fundamentals and short term news that people react to really makes my trading session a lot easier.
Anything that makes your trading easier is a good thing.
I don't think as a retail trader that I can get the news quick enough to be able to take advantage of how other traders will react. After all stocks have been known to drop after what is perceived by the public as good news and vise versa.
I feel that I don't have to know why a market is moving, all I have to know is that it is moving and have a plan that might be able to take advantage of that move.
Trading is after all 2 parties agreeing on the future value of what is being traded and both thinking that the other is wrong.
It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
I think you must be more specific in the alerting news you wish and specialize in it.
there is not one site that gives alerts on everything...sometimes events happen randomly, sometimes the event is due to a tragedy of some Kind and those items take time to hit the media and as others have said by that time it is old news.
HOWEVER, there are events that are preordained .... such things like FDA approval announcements on a drug in trials... you have 3 types - Phase 1, Phase 2, phase 3.
The Phase 1 announcements are not that important as the testing just leads to Phase 2 and just decides if the product is harmful to humans....failure to pass this is devastating....Phase 3 is the final fine tuning of dosages and if it passes then the drug can go to market.
there is a n excitement lead up to such event and often it is buy on rumour-sell on fact.
this information will help you identify the companies involved