Alex, Dlp and Funk,
I never said that I would buy something because I saw news on it, infact, if you know contrarian approach to things, I am moreinterestedin knowing that the action, volume I am seeing is NOT a result of news. I would never buy a stock soley because of news stories.
Geez, I HATE seeing news of any type on a stock I own or am about to buy. News rarely is good news.
But lets take it a step further, you all are saying essentially, "news, what use is it, you cant trade it because the stocks are moving to fast, and secondly, I wouldn't buy into it because its a sucker's best"
I agree with both assessments, but here is my point and how I use news....how the heck do you know you are NOT buyiing into news if you dont have news.
The worst trades someone could make given their belief in the above two statements, is buying something without knowing if there is news, because it is just as likely you are buying into news as not buying into news. If your little abcd is moving up 1/2 on news, and everyone else is buying because of news, its almost twice as bad that you are buying without knowing that its moving because of news.
The market starts tanking big time,everything's heading lower...wouldnt youwant to know it was because Clinton said something about Iraq? If it were something more substantial, wouldnt you want to know a short opp. might be available?
Ps. Caryn Gibbs was the best. She was the smartest person on that crew, dead on accurate with everything she would have to say about bonds and fixed income and economic reports..she wasimpressive , right up until she left with Niel Cavuto.
Funk, I think I gave you several reasons in my last post and two here as to why news is valuable to a daytrader.
You didnt answer my questions? Have you ever had it fulltime? If you had, you wouldnt want to be without it. You can never have to much exposure and experience and feedback from the market.
We could go back and forth forever, with neither side budging. I'll rest with those arguments.
Regards
Steve@yamner.com |
