HI, I trade NQ, and can ususally make a buck when these type of #'s come out and they are at an extreme. Today I noticed the futures dropped 4 points before the Dow Jones News from E-Signal showed the headline number. I'm curious as to what gave these traders an edge since Globex is all electronic and traders are sitting at a desk just like I am? Do certain vendors provide faster feeds of the DJ news, or was there another source that I am not aware of that is faster. Thanks in advance, Tbill1
do not know where the number came out first -- i have jon ogg, bloomberg, reuters, dj --- and the futures tanked before i had a chance to do anything -- i have also noticed on alot of news stories - that i get off of bloomberg -- which is usually first - alot of these stocks have already started moving by the time i see it on bloomberg ?????
I think I read somewhere that subscribers get the data 15 minutes before it is released to the public.
In this particular case, the NQ went from 1236 to a 1232 bid when the DJ headline came across. It seemed longer, but time and sales shows only 7 seconds elapsed between those prints. Tbill1
When I traded at hold brothers, they were able to listen in on the conference call with the guy the released the data to the public, which they would put on speaker for traders to hear, then holds news guys would call it out. other news guys who are not in the conference call, will have to wait for it to hit wires which will be delayed. I don't know what it costs to do this.
Reuters, DJ, Bridge , etc. all have several levels of service. They can get very expensive. My awareness of this comes from once trading in a private room of strictly news players back during the bubble years. Anything you get from standard charting providors will not be the highest or fastest level. You can imagine how much any one who had the news a second early made today.
I bet we would see some action 14 minutes 59 seconds before the number if that is the case... 15 minutes may be a stretch...but anything is possible.
I'm goin try and convince you guys one more time. Forget about news feeds. They are useless. Smart money will always know before the news feed. Somebody has to, otherwise how do the feeds get it? Just look at the charts. Besides, what difference does it make. Lets say in you're in a position. You've got your target, you've got your stop loss set. The new doesn't effect either element. If your long, and the market tanks, hit's your stop, you get out. Time and time again, when trading with with others, everyone else is watching the news, letting their positions get away from them. I don't have any idea what's going on, but I'm out. Who is better off.