I didn’t research too many new sources this week; just a host of news websites like Reuters. I am quite happy with CropSite still for very relevant news and analysis, and also USDA for stocks information.
Additionally, I referred to some price data from the following sites:
http://quotes.ino.com/exchanges/contracts.html?r=CBOT_ZC
http://futures.tradingcharts.com/chart/CN/M?anticache=1348799877
The second one is a site for technical analysis of commodity prices. The options to view the price variations are intraday, daily, weekly, monthly and historical, which is very useful.
Again, this week I have been grappling with the question: how significantly is the news information that I am coming across being reflected in the prices. There is so much information out there, but I suppose how much weight to assign to each piece of news is the trader’s prerogative.
2 replies on “Week 2: New Sources of Information”
Hey Ishrat,
I think you’re absolutely right to question how, which and whether news actually affects the market. The moment something is known to everyone, its already in the price… There is an old saying :”buy on rumour, sell on fact”. ‘Professionals’ trading stocks, bonds, commodities, currencies all spend a disproportionate amount of time and money trying to have an information edge over the rest of the market.
I met an oil consultant once who was pitching his services… His price was $100,000 a year, but he guranteed you would know within 2 minutes if a missle was fired in the Middle East.
It took me a long time to learn how to ignore the news, especially if I had a long-term view. Its like driving on a busy road with hundreds of flashing billboards and signs saying turn left or right. You just gotta tune out and focus on going straight… but sometimes the lights are so bright…
Thanks for sharing that Mark; I wonder how many companies formally subscribed to his ‘expertise’…
And the highway with flashing billboards is a neat analogy. It is encouraging to know that one doesn’t need to know everything!