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Maybe, maybe not. Markets can act erratically to news and you have to change your risk management into these catalysts...I would definately want to know if something I'm trading has the potential for a large move because of some news.

If you are daytrading, especially if you are daytrading equities it would be irresponsible not to look at news lol. Look at the names i just gave you...you dont want to going balls deep into a stock with an earnings relase in the middle of the day. Or one with an ongoing lawsuit etc.

Breifing, Flyonthewall, twitter... lots of stuff out there. CNBC is usually just good for background noise :)

Here is my 5 day numberline...notice the mean is 1.3 and the standard dev is 1.64. Very correlated tape with very little short-term momentum in either direction!

http://video.cnbc.com/gallery/?video=3000094637&play=1

Here's the Q&A from the thursday's fast money...watch me at around 7:30ish :)

Despite the craziness in this market there are still some setups with follow through. Check out X from last friday. failed monthly aup to a down in three days. Down over 14% from thursdays failed monthly Aup! I was taking this one short on Friday, but considering the weekend events i did not...

And the weakest among them was CL...outside day engulfing the range of all June's action thus far. Not alot of support until 75-76ish

Nice spot king, seeing the same thing in the dollar as well :)

What strategies do you like in this tape...personally i like buying low and selling high :) haha

King, you can't spread in this market my man. When correlations go to 1 the last thing you want to do is spread! I haven't put on any spreads in the past few weeks and shouldve stopped sooner, its very hard to gauge relative value in a erratic tape like this one.

This was announced on Thursday...the market rallied ahead of the official meeting between the eurogroup and Spanish officials! Seriously anyone trading this market should know details like his lol Since the market rallied when Spain announced it needed funds it looks like it already priced...

I am in Chicago, trade at a firm in the loop. Are you retail or prop?

WORD

Another 10 handles overnight...now let me ask you this if you were short how would you be feeling right now? have that perspective when you are looking to trade this market!

Heres one way I look at things. When move is extended and everyone can give you many reasons why it's happening etc that usually marks some Type of high or low...usually. Quite the oppositte for Moves that happens and no one knows why...those are the moves you need to Pay attention to cause...

Ditto, that looks like a gann square chart compared to mines lol

Just follow the price action and listen to the market. You shouldn't let personal biases effect your view of the market action. The way we closed today was very strong, why I don't know. One basic principle is that when a move happens and no one knows why there is always a chance of a large...

It was the number line divergenece King...it gave it away! Into the monthly a down it lined up. Now you ready to come and get back into this market?

30 day numberlines for the indices: DIA: -7 SPY: -5 QQQ: -5 IWM: 7 The QQQ'S have went from a -14 on the numberline to a -5 today at the close! we added +9 to the 30 day in 5 days! Thats a big change in a short period of time. We are working these numberlines off pretty fast here