Following up on the last post (see entry immediately below), there is one other web site I consult before trading each day.
It is critically important that you know of any news releases scheduled to be announced during the trading day. This is especially true of economic reports.
There are several sites you can consult for economic reports. Here are a couple:
- http://online.barrons.com/public/page/barrons_econoday.html
- http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
Every quarter you should also be aware of when certain companies are making their earnings announcements. This is especially true if you trade those stocks, or they are major stocks that could influence the entire market.
Again, there are several sites that will supply this information, but here’s a couple:
- http://biz.yahoo.com/research/earncal/today.html
- http://www.briefing.com/GeneralContent/Investor/Active/ArticlePopup/PagePopup.aspx?PageId=3270
Remember, news is VERY important – more important than technical analysis.
Never forget the well-known saying: “News Trumps Technicals.”