So how do all the "pro's" feel about not watching CNBC?

Quote from The Kin2:

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'
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read the tape? lol on what? You dont even know what I trade.

In fact, you know that the tape moves on news right?

you're kind of an idiot.
 
Quote from Ticketwatcher:

Let us make a distinction. Losers listen to CNBC. Particularly, when they look to CNBC for trading advice. There is an old saw, that you hear constantly on CNBC, and that is traders do not want to be long going into the weekend or traders are squaring up positions for the weekend. I am certain there are a lot of lazy traders who trade on that kind of simplistic crap and think the can make some easy money shorting Friday afternoon.
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That's basically what I'm getting at.

What do you guys do, sit in a room with your headphones on?

If there's a nugget out there I want it. If it means having to sit with CNBC in the background, that's fine.

Why are there so many whack jobs on this site?
 
Quote from SteveD:

I saw Art Cashion make the point that traders didn't want to go into the weekend short....squaring up their posistions today..


Now I know most of the smart guys on ET know more than Art...he has been down there for 40 years...

But, hey, what does he know compared to the "smart" traders on ET.....

LOL, you guys are really comical to watch....

NEWS moves the market.....

Ever see a floor trader walking around with a headset listening to music???

I watched Boone Pickens say oil going back to $85/bbl....I don't trade oil but I damn sure wouldn't go long on that information...


Just my opinion....

SteveD
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takes a little while for this to sink in on ET
 
RE: T. Boone Pickens shorting Oil

There Will Be Blood

Actually, there is already blood. And lots of it. According to our energy-trading moles on Wall Street, word is leaking out of BP Capital that T. Boone Pickens is getting slayed in no uncertain terms by the indefatigable rise of oil to fresh highs – something that he had very publicly bet against, trumpeting to media outlets only days ago that oil prices would drop to $85 a barrel in the second quarter. “People trading the front end of the curve are getting raped,” exclaimed one big bank trader last night. Then, there are the traders that are doing the raping…like this castle-owning Brit.

http://online.wsj.com/article/SB120414423054397257.html?mod=hps_us_pageone
 
Quote from athlonmank8:

That's basically what I'm getting at.

What do you guys do, sit in a room with your headphones on?

If there's a nugget out there I want it. If it means having to sit with CNBC in the background, that's fine.

Why are there so many whack jobs on this site?
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Sir,

Well said
 
By the time you hear the news it is already too late. Why do you NEED to know the reason that price is moving in one direction or the other? It has no bearing on the price action. The price will tell you all you need to know.
 
Quote from HolyGrail:

By the time you hear the news it is already too late. Why do you NEED to know the reason that price is moving in one direction or the other? It has no bearing on the price action. The price will tell you all you need to know.
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I have traded news for a living the past 7 years. i want to find out the news as it comes out. Reuters bloomberg DJN and CNBC all give me that
 
Quote from KeithOmalley:

I have traded news for a living the past 7 years. i want to find out the news as it comes out. Reuters bloomberg DJN and CNBC all give me that
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See it just goes to show that both extremes in this industry CAN make money at the same time.

I've traded for a living for the past 12 years and watch either the SciFi channel or the Comedy channel and trade price.
 
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