I trade grains (mostly corn) and I watch or rather listen to cnbc. Its basically background noise for me as they rarely talking about anything I trade, thus it has zero effect on my trades.
So how do all the "pro's" feel about not watching CNBC?
- Thread starter athlonmank8
- Start date
While I don't in any way or shape believe watching CNBC creates a trading "edge" I will share the crazy experience I had while watching at a distance in my trading room in mid August while I had 3-4 decent size long positions...saw the dow literally gap down 300-400 points on the (cnbc) screen and before it even hit my trading screen and the issues I was long in I sold everything before it actually tanked. Super wierd/lucky/whatever.
True story.
True story.
listen to the announcements, filter out the talking heads, "expert analysis" etc..
the fact is cnbc is very useful as i dont need to look at another nugget on my screen for news. Just leave the tv on and keep an eye or rather ear on it. And cnbc usually is faster or same speed as the data feeds on announcements/news, and cant beat watching the events live while trading.
Just learn to filter out all the bullsht (80% sounds about right) that's not news.
the fact is cnbc is very useful as i dont need to look at another nugget on my screen for news. Just leave the tv on and keep an eye or rather ear on it. And cnbc usually is faster or same speed as the data feeds on announcements/news, and cant beat watching the events live while trading.
Just learn to filter out all the bullsht (80% sounds about right) that's not news.
OP is a fucking idiot. Has he ever heard of Bloomberg?
Plus there is also another method which happens to be my personal favorite: read the tape. Even if I didn't know what was going on, the signal to go long was loud and clear, and probably became noticeable a few moments before cnbc's shill'
Plus there is also another method which happens to be my personal favorite: read the tape. Even if I didn't know what was going on, the signal to go long was loud and clear, and probably became noticeable a few moments before cnbc's shill'
Personally I enjoy listening to CNBC. There are some guys who are on who I listen to closely. Guys like T Boone Pickens for instance. But there are others.
But frankly, I rarely trade on anything I hear there because it is generally late. That said, today Charlie Gasparino came on CNBC and made the news with his Ambac comments. I don't care what other news service you were listening to, Gasparino was the man today. I might add he did the same thing on the downside a while back with a report on this same issue.
I think the point is that you never know where and when a clue might come. Today was a great example of this.
By the way, this hit Briefing.com at 14:30 CST, when the ES was at 1335. You still had 20 handles to go.
OldTrader
But frankly, I rarely trade on anything I hear there because it is generally late. That said, today Charlie Gasparino came on CNBC and made the news with his Ambac comments. I don't care what other news service you were listening to, Gasparino was the man today. I might add he did the same thing on the downside a while back with a report on this same issue.
I think the point is that you never know where and when a clue might come. Today was a great example of this.
By the way, this hit Briefing.com at 14:30 CST, when the ES was at 1335. You still had 20 handles to go.
OldTrader
Yup. I figured the financials would just whosh into the close. Had been in and out of LEH and UBS a few, when Chas. hit the screen with that ABK. I covered, but like a goddamn fool didn't jump on ABK. I really hate taking momo trades when I don't like/trust the company. But I've found you have to watch if you want to catch the momo. Jon Najarian mentioned DNDN a while back. Ka ching. I don't know how you copy that, Rupert. CNBC is as annoying as hell. But I do watch more than I used to. I think what everyone resents are the "personalities." If they just did the deal, quit the cute stuff, it'd be a lot better.
Anyone see the "WTF" segment today? What's with the new street, nee Street, language? It/Shit stock, WTF, I"m pissed. Very common now on CNBC.
With all due respect, obviously there were one hell of a lot of people who "cared" about this particular news. Why else did the market rally 30 handles in 30 minutes?
Now if you would prefer not to know why the market is going up, I got no problem with that. You want to take your slice, I got no problem with that either. But for me, I like knowing why certain things are happening because it builds confidence in the position. With confidence, mayibe you get a little more than a "slice". Obviously the tape is always important, it's just not all there is.
OldTrader
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I understand your point about the confidence, but really when you think about it, you still never know how high is too high. I definitely knew that it was some kind of news to move the market the way it did, but I traded it based on the price action. Did I get all 30 points? Hell no, but in my case I would not have traded any differently knowing what the news actually was.
CNBC is garbage. The only one there with common sense in Santelli. Yes, I'm a WOP, so, there's some bias on my end, but he is much better than the rest of the heads there.
I like "Uncle Larry" and Ben Stein, but they aren't even in the same World as Santelli.
Rick for President. Yes, I recall my vote for Stein. LOL! 
I like "Uncle Larry" and Ben Stein, but they aren't even in the same World as Santelli.
Rick for President. Yes, I recall my vote for Stein. LOL!