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To: Crimson Ghost who wrote (38606)	3/1/1999 2:21:00 PM
From: Big Dog	Respond to of 95453

Here is a snippit from investorsalley.com, FWIW... I am not going to say media is valueless, but it must be used properly. One has to know first the quality of information, what the lag is like, how many people can scalp the info before it gets out, etc. etc. This is a job one can do by just thinking, but it must be done. And keep in mind that the old technician's adage about it all being in price is dead on. Price is right, price matters, news gets reconciled with price, price does not get reconciled with news for 99% of traders who are using news correctly that just don't have any inside track. Look for patterns, do your own work, and know what you are getting. Good information is priceless - and it is distributed on a need to know basis. The guy who makes his living trading crude oil and is long 20,000 contracts pays up to find out what OPEC is going to say. He NEEDS to know. He probably pays more to obtain information than you have on the line. So if you are trading with news you get for free, do you really think you are going to get very far when that guy is out there a day or two ahead of you using very expensive information (that in all likelihood the media outlet used to generate the story a day or two later) to trade? big loosbrock.com