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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Teresa Lo who wrote (1648)	7/8/1999 12:56:00 AM
From: -	Read Replies (2) \| Respond to of 18137

<re: let the newspapers turn yellow...> I agree in principle, that's why I hardly ever listen to CNBC anymore. There is a real Zen to just being with the charts. But hey, you need to know if everyone is watching for a big economic number, or if NEON is about to be downgraded by the analysts ;)). I have found that Price almost ALWAYS, proceeds news... in other words, there IS "smart money". But places like TSCM, if used appropriately, can be a good place to learn about the market, how it functions, and other things pertinent both to reading the market environment - a key skill for a stock trader that hopes to survive - and, once in a while, trading. As noted on this thread, TSCM is NOT the ideal place for this by a long shot... there is a void, which a few sites, like TigerInvestor, are taking a stab at filling but no one has "hit a home run" yet. Cramer has the best material on there, and IMHO he's not really a "trader" in the sense we define one - he's a money manager that likes to trade (his wife is the trader, but she's reportedly retired into the real world). A lot of the stuff on TSCM is strictly contra-indicator - sort of like a tabloid Put/Call ratio. Don't get me wrong, I spend on average less than 5 minutes on TSCM per day - and it's been getting shorter as time goes on, and their quality declines. I'd much rather be studying a 5-min intraday chart of the Spoos. But it's a quick substitute/replacement for the WSJ, IBD, etc. - and faster. For example, when you're watching for YHOO to report, it'll often be on there often quicker, than on CNBC (today was an exception - they were asleep at the wheel, probably counting IPO$). Now, off to ISpec.com, to "read" ;) (actually, to listen - fancy S&P charts today to decode) -Steve