Market Assessment Site

[cpatte7372]

Hello,

Can someone recommend a good site that I can refer to during the course of the day to let me know how the markets are doing? For example, MSN provide a market report every 15 minutes. Unfortunately, its just a summary of what is occuring in the markets. I was wondering if you guys could recommend a site that provides a rather more detailed report on how the markets are doing.

Someone suggested Investors Business Daily. I'm going to check them out but if you have any other suggestions they would be appreciated.

Cheers

Carlton

[DuaneG]

Hi Carlton,

You may want to look into Briefing.com. They have some free services that may be of use, but you get more content with a paid subscription. They send out regular updates of intraday performance of the major indices and some news headlines. It may be what you're looking for. Hope this helps.

[cpatte7372]

Hee hee,

Duane, they seem to work for MSN. They are the people that I'm currently getting the information from.

You seem to really know your stuff.

Cheers mate.

Carlton

P.S. Would you happen to know any others?

[DuaneG]

Hi Carlton,

I would definitely take a look at some of the real time news services offered by eSignal. PR Newswire & Business Wire may be a good starting point for $5 a month. If you are looking for a well rounded subscription, I would suggest looking at the CBS Market Watch News and Commentary subscription for $20 a month. These are comparable to Briefing.com, but the updates are much more frequent and accessible from within eSignal. I've included a link to the News Services available from eSignal. Hope this helps.

[cpatte7372]

Duane,

Thanks once again mate. I think I'll check out the esignal newswire as you mentioned.

Cheers

Carlton

[FibbGann]

Cpatte:

Here is one great way to know what the market is up to during the day:

Along with know where you support and resistance areas are.

You just need to know what the $VIX/$VXN, $ADD/ADDQ,
$TRIN/$TRINQ, are and what they are telling you.

I use a MA of the $TRIN/$TRINQ takes out the whippiness. Usually a 5 or 10 MA.... And I put these right into the e-mini futur charts.

Work wonders... and can often tell you when market may reverse without the charts telling you.

Enjoy,

Fibbgann

[cpatte7372]

Fibbgann,

Thanks a lot mate.

Carlton

P.S.
This forum is actually teaching me how to trade

[soylent]

I agree w/ Fibgann on how to decide market direction (the indicators).

My own opinion: News is the absolutely most useless information you can have access to. Unless you happen to own XOM (Exxon) and hear that they just declared bankruptcy (or, an event that has such obvious ramifications that even I would know what it meant), then, it doesn't matter. And, while these events DO happen, the chance you aren't taking a pee break when it hits and can do anything w/ it before everyone else has jacked the price to 'fair value'...

Well, I digress...

If you want news, I do like Briefing.com. Because they are often funny, at least, and mostly stay on-topic (they don't digress to banter about what-ifs on disney mergers, etc). Just hard numbers.

The ONLY time news is usefull:
If all the indicators are in alignment to 'go up' and we are looking for a reason and they say 'Osama's caught' -- it will incite the rally. Since you should already have been LONG (due to technical indicators) you will smile and set 'sell' orders at where you expect the crazy news / momentum to carry the rally (or, sell off on bad news).

I really do like BRIEFING though because sometimes I'll be in a trade waiting for the indicators to align and a spike will happen. Most the time Briefing will cover it. e.g. Today, someone dropped 20,000 PUTS on QQQ right around noon. This created an aberation in all my indicators. This helped me decide whether their was a real rally / program buying or not. Maybe some hedge was testing the waters to see if they could start a short cover panic rally. The answer: nope.

[cpatte7372]

Originally posted by soylent
I really do like BRIEFING though because sometimes I'll be in a trade waiting for the indicators to align and a spike will happen. Most the time Briefing will cover it. e.g. Today, someone dropped 20,000 PUTS on QQQ right around noon. This created an aberation in all my indicators. This helped me decide whether their was a real rally / program buying or not. Maybe some hedge was testing the waters to see if they could start a short cover panic rally. The answer: nope.

Soylent,

Can you explain how Briefing helped?

Cheers

Carlton

[soylent]

>> Can you explain how Briefing helped?

It didn't help @ all. But, it was interesting to know why something 'non technical' happened mid-day.

-c

[cpatte7372]

I see.

Cheers

Carlton

[soylent]

I guess I should add: 'how did briefing help' -- they didn't but that's good. Some places will say, "Oh the smart money is getting out -- you should too" etc...

What's the % of that statement being true? Who knows -- no one backtests that.

But, I guess my point is, if you want to know the news w/o biased commentary, BRIEFING is nice for that.

Is their news any more useful? No.

-c

[cpatte7372]

Originally posted by FibbGann
Cpatte:

Here is one great way to know what the market is up to during the day:

Along with know where you support and resistance areas are.

You just need to know what the $VIX/$VXN, $ADD/ADDQ,
$TRIN/$TRINQ, are and what they are telling you.

Can someone give me an example of how the would use $VIX?

Cheers

Carlton

[DuaneG]

Hi Carlton,

Below is a screen shot of the correlation between $VIX and $OEX. You may also want to read up on how the Volatility Index is calculated and a further explanation of how to interpret the Index and how it applies to general market dynamics. Please let me know if you have any questions.

[cpatte7372]

Duane,

I was reading that article just 15mins ago. Thanks for the chart. However, I must say that at the moment I don't understand how to interpret the VIX.

Can you tell me how I would interpret the chart you have attached to give me some insight on the general market direction?

Cheers

Carlton