There are news services you can subscribe to. I listen to the Shadow Trader broadcasts from TOS during to day. That's where i heard about the BIDU downgrade shortly after the market started to fall precipitously.. Most brokers provide non-selective streaming news as well. And there is always Bloomberg. If you are trading the market in real time based on what you see happening the "why" doesn't really matter so much, but it is nice to know.
I posted the reason right here - I swear it fell as soon as her ugly mug showed up on cnbc. Her economic policy is take from the haves and give to the have-nots (which surprisingly are also her voter base).
Here is an interesting exercise for you: Put BIDU and SPX on the same chart. What do you see? They are exactly the same, except BIDU has a bigger beta. If you played futures, you could have got a bigger return than on BIDU. There were 100s of stocks making exactly the same chart, MSFT for example. So once the selling started, it didn't matter what you sold shirt, you made money...
You guys are freakin unhinged. My god you know certain motley fools cut and paste and make fun of us over here at ET... Why The Sudden Drop is as funny question as why the sudden rise. The basic function of the market is to trap you, to build hysteria get as many people back in as possible and suck their money away again. Then after taxes and after you take away 20% for currency devaluation vs cost of living you are left with a professionals market. Certain of us exist at the fringe, but it's rare you can take on Mr Market solely without having a salaried job. The market gave you warning signs the biggest being the lack of participation by SOX index the past four days. This set off every kind of yellow flag in my system. We had already been on semi notice because of a transport non confirmation on the Dow and now we have two issues. We don't have a great situation on our hands. Add to this two clear distribution days in the last week and a half & today a third- it's safe to say institutions are selling not buying. In fact they did not do very much buying at all this last leg... We also have an market in overbought territory with just the crap Chinese stocks moving. The speculative stuff flies at tops. No fed speak, no Hillary-- someone mentioned bollinger band before don't know about that but Apple and Goog were both hitting the top of trend channels and that's a retreat point and that snowballs. The semi equip stocks were cut the other day and the tech space is vulnerable to a sharp ass slap here. I'm nervous in that regard because that's my ballpark and I still got my trading account fully loaded... I've been pointing to the pricing of TXU's debt monday as being the cause of the correction I think people will realize that it's a bad omen for the rest of the less cash flow friendly deals, if these banks have to give in a lot... This is 3%-4% problem now I believe unless China mainland stocks free fall then it's a 10% problem or worse...but you all should have seen it coming, I know I did.~ stoney
I understand what your saying. In fact, if you traded the futures you would have had an early start on the party today. But, my point was, how in the hell do these guys trade in a vacuum of information? It was, and is, my sense that the posts previous to mine were essentially asking, "what happened", "why did we go down". Thats even the name of this thread. Appartently from the responses, I'm to believe thats because the news is irrelevent and doesn't cause changes in stock prices....hmmm, not sure i'm onboard with any of that, but it does answer my question I suppose