About a year ago, I found a program that uses Internet Explorer to access multiple websites to pull news on a symbol. For instance, if I typed the symbol "IBM", the program will access a dozen websites and get news on IBM. I can't find this program any more. Has anyone heard of such a program and where can I find it again? thanks!
The program I was thinking about goes to yahoo, msn, bloomberg, reuters, cnbc, etc all at the same time so you don't have to navigate to 12 windows and enter the same stock symbol 12 times...
Then I have no clue what program that would be. Although you may be placing too much emphasis on news.
Many times I'll see a large move on the chart and not know why. It might be just a technical move (which I'll fade), or it might be a real news annoucement (like PALM's PRE). Since I'm not on a trading floor, information flow is lacking, and I thought the best alternative was to use something like this.
Different people have different trading philosophies. Some people trade more by fundamentals (news, earnings, etc.) I am personally more a technical guy. I believe that anything that can possibly be known about a stock is already reflected in the price. No matter what news feed you have by the time you can get that news, read it, and decide how to trade it, that news has already affected the price. Most of the time "people in the know" have already had that news for 24hours or better before it's ever released to the public. Now I am not saying to completely disregard the news. You should be aware of upcoming earnings reports, announcements, and possible rulings or legislation that may affect your stock to try and not get caught completely off guard. For that you don't need 25 news sources. Once a price makes a significant move however, going back and trying to find the why in the news is not really all that helpful. You either lost your ass or made a killing.
If you really feel the need for that much news the tool you are thinking of is most likely a RSS News feed reader. You can look up a ton of those tools on Yahoo or Google.
I totally agree with you. By the time it's in print, the move has already been made. The novice trader would find the news, and buy it based on recommendations. The experienced trader would use the news and sell it, knowing the public would push the price artificially higher. There's a prop shop I know that specifically waits for Kramer of Mad Money to recommend a stock, and they would short it immediately. So for my purposes, I want to evaluate the nature of the news. How significant is it? Is it a new product announcement or simply a stock guru recommendation. This decides whether I should go along or fade the move for a swing trade. I think I've found the software - SpeedResearch.com. Thanks for you insight!
I took a look at this tool and it appears to be using Internet Exploder...err Explorer for the engine. I would never use any tool that is based on or uses IE code and security. For ALL web browsing I only use Firefox with the NoScript and CookieSafe plugins for the greatly enhanced security this combo provides. IE just has way too many security holes and no way to selectively block rogue scripts from running on your machine. Browsing the internet with IE is like banging a $5 hooker without a condom. Sure, you might not catch anything the first time but sooner or later you will.