Discussion in 'Trading' started by wjk, Oct 1, 2008.
Which of these two reports faster when it comes to tradable news?
Bloomberg or CNBC
Neither ... the price and volume data does, as do things like DJ Newswire and Bloomberg Terminals. By the time any news hits the TV or Internet news sites, it's already been traded and the traders are ordering steak dinners.
That said, Bloomberg doesn't goof around, editorialize, or routine-ize their breaking news like CNBC does....so if you absolutely MUST trade from TV, I'd say go with Bloomberg, but it's no guarantee you'll do any better, quite frankly.
with out question cnbc MOVES markets, if your going to trade the couple events off tv a week go with CNBC.
And pay no attention to people who tell you, you cant make money off the tv i probally made about 20% of my year off cnbc, and i trade news for a living. they have some good sources.
I try and trade charts only, but news might help me determine targets. When I see 150 points on a 1 minute bar in the YM, I get curious, and it's frustrating to hear a pundit talking crap when there is real news afoot.
It made sense after I heard the GM news.
Meant to say GE
On September 16th when the FED was going to make the announcment re-interest rate adjustment, Bloomberg TV was bascially reading right off a terminal, ES market moved maybe 2-3 seconds ahead of the TV. Enough to make a difference to lots of traders.
CNBC is like a car wreck, you can't help but watch it even if it is gross!
You short them though right?
Although I hate to admit it, I think cnbc has better coverage of breaking news than Bloomie. I'm guessing this is partly due to having more resources (-?). You just have to make sure to ignore the opinions given by the various personalities and trade the facts only.
You also have to realize that Charlie Gasparino broke the story first; over night, over the weekend and last week.
He actually breaks all stories before anyone else. Among some of his most notable were BS, Lehman, WM and WB, the story about Enron, Elvis's death, the birth of the Warren Buffet (he was the first to call Warren's successful future and that he would slip GE $3bln in 2008) and that the British were coming.
If you don't believe me, ask him.
lol, i have noticed this once. maybe twice.
Separate names with a comma.