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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (4099)	5/11/1998 5:36:00 PM
From: funk	Read Replies (1) \| Respond to of 12617

Rest up, steve! Yup I have had CNBC for several months, I was never arguing the merits of CNBC as far as being a great source of news. You just don't bother to actually read my posts. I was only speaking from my own very limited experience, not with the intent of convincing trading desks and stock brokers to turn off the Tee Vee, but with the intent of provoking some fresh thought pertinent to daytrading. What is essential or non-essential to successful daytrading? Really it is not important at all if you or anyone else agrees with what I was saying, I may not even agree with it...! All I was trying to put across is the possibility that what some folks label essential another may call irrelevant and there may be a little truth in either view. CNBC wasn't fitting into my mental budget, that's all there is to it, (and my home is too far a stretch for the cable company). Whatever use I was getting out of it I found I could get in other ways with less distraction, but that's just me. I don't expect what I said to be popular, but I felt it was worth the risk to get some discussion going. And not to put too fine a point on it, but Steve I don't feel that you really gave much thought to how things might work for a small-time operator or some one who only is responsible for one or two accounts. It feels like we were talking about apples and oranges or something. CNBC Had it, don't have it, don't need it, don't want it. If I ever get it again I'll be sure and let you know. <gggg> funk

To: steve goldman who wrote (4099)	5/11/1998 11:52:00 PM
From: Robert Graham	Respond to of 12617

How about using news as a sentiment indicator by seeing how the stock responds to it? This is the way I use the economic reports to gauge the markets response. I may know nothing about the specifics of the report. All I need to know is what the market was expecting, what the report came in at, whether the results were "better" or "worse" the direction they ended up going, and the markets response. This is one of the few ways I know of to gauge market sentiment. A similar approach can be used for stocks. Of course it pays to see if there was a runup before the report and the news was just an excuse to take profits. Bob Graham