I was watching "fast money" the other night, and Dylan commented that most traders don't use technical analysis, then the option dude pipes in "for good reason".. I was suprised at that comment.I would think that the shorter the time frame, the more most traders would rely on technicals. Those fast money dudes seem to have a more intermediate time frame, but i find it suprising that these professionals would ignore technicals, even with the longer time frame...
is this really true?
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Adami uses technicals, at least he talks about them on the show.
Pete, the options trader, uses volatility and follows buy/sell interest as well as news. That is what the Optionsmonster website is all about, finding tells within the options activity.
Macke seems to use more fundamentals in his trading against the backdrop of overall market sentiment.
Karen, she seems more of a money manager type. Fundementals would be more of what she would look at in her analysis.
Overall they all seem to be swing traders when they trade. Pete is probably the closest to a pure trader out of all of them. They make some interesting observations, but overall the show is entertainment. They do serve as a good news source regarding the markets and what is going on with some of the whales and larger funds out there. Dylan used to follow the money flows on Bloomberg when he was there and Fast Money seems to be a reflection of this background.
Good Luck!
Pete, the options trader, uses volatility and follows buy/sell interest as well as news. That is what the Optionsmonster website is all about, finding tells within the options activity.
Macke seems to use more fundamentals in his trading against the backdrop of overall market sentiment.
Karen, she seems more of a money manager type. Fundementals would be more of what she would look at in her analysis.
Overall they all seem to be swing traders when they trade. Pete is probably the closest to a pure trader out of all of them. They make some interesting observations, but overall the show is entertainment. They do serve as a good news source regarding the markets and what is going on with some of the whales and larger funds out there. Dylan used to follow the money flows on Bloomberg when he was there and Fast Money seems to be a reflection of this background.
Good Luck!
Bolling used the be the resident chartist, but he left and went over to FBN.
Other than that, the Fast Money crew pretty much doesn't use charts for their trading.
Adami references volume spikes at tops and bottoms, but he's not really a technical chart trader.
Pete is probably the only legit. trader they have. He pretty much seems to make his living on trading.
Finerman is making a living on charging others managment fees, not living day to day on trading.
Macke had a rich daddy Dayton Hudson CEO and I think he may run some money for others.
Like I said, I wouldn't looks towards Fast Money for anything other than some news regarding the markets and entertainment. Still better than Mad Money and the abismal offerings available on FBN.
Other than that, the Fast Money crew pretty much doesn't use charts for their trading.
Adami references volume spikes at tops and bottoms, but he's not really a technical chart trader.
Pete is probably the only legit. trader they have. He pretty much seems to make his living on trading.
Finerman is making a living on charging others managment fees, not living day to day on trading.
Macke had a rich daddy Dayton Hudson CEO and I think he may run some money for others.
Like I said, I wouldn't looks towards Fast Money for anything other than some news regarding the markets and entertainment. Still better than Mad Money and the abismal offerings available on FBN.