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Hope all of you are finding it to be a decent trading day!
I find that I am constantly in search of news outlets that will provide me some minute to minute insight into what is going on. Be it globally, hemispherically or domestically that will help me understand WHY the ES moves and reacts at certain times and for what reason...
I am currently listening to Bloomberg Live steaming but find they diverge too much into interviews and such....
Any assistance or guidance would be really appreciated
John in Toronto
Can you help answer these questions from other members on NexusFi?
I don't specialize in up-to-the-second news, but you can get an idea of some good accounts to follow by seeing who I retweet, then start building your own lists.
Twitter is the best source of real-time trading news.
It is my understanding that those who "know" what's going, and have not personally called you to tell you what's going on, have no interest in you knowing. In fact, they prefer it that way. The few who can move the market can only profit by treating the masses as the mushrooms they usually are.
You are aware that most financial news is produced by the same companies who weave drama/fiction from Hollywood, right? The news isn't new, the reality shows aren't real, and if you "heard it first here," you're the last to know.
I fear that if you're looking for edge in streetlevel pre-washed data, you'll be constantly let down, and that not by chance, but by design.
I believe realtime price action is the best way to see "what's going on." When something happens to move price, you'll see it on the chart. Does it matter what the price moving event was? Have you ever seen the market go up on bad news and down on good? Your edge will be thin and those who are able are constantly trying to erode that edge. They are paid millions to do so, and one of the easiest ways to sway the masses is to (this is going to hurt...) tell them what to think.
We make money with price swings. Make that your specialty.
Good luck Switchgear
Just to clarify, there is a substantial difference between opinion and news. I find macro news useful, like BOJ easing, PBOC devaluing, FOMC minutes, PMI, ISM, etc. I find earnings news important, as it relates to SP500, so following earnings is useful.
I follow some on Twitter who specialize in opinion, because I value their research.
To be clear, I am not talking about the majority of opinion articles from CNBC talking heads.
I agree with what most of you are saying...by the time you hear it (read it) ITS TOO LATE....
But, as pointed out by Big Mike, major reports on earnings, damaging tech recalls (VW), world sh*t storms etc are all useful to one degree or another....
I guess it will be best to just keep my eyes on the market and watch the "action"