In many of my presentations, I normally mention how I have CNBC on pre-market to watch futures prices, and throughout the day to keep an eye on headlines and the performance of the averages. I have received several e-mails recently asking how all that information is helpful to listen to...how many of the listeners don't understand what they talk about...and how they don't understand how to react after hearing their commentary.

I have a great idea for you. In order to get the exact same effect that I get from watching CNBC try this... I always mention that I "watch" CNBC to see prices and major headlines...but I hardly ever "watch" with the volume on. I agree the information heard can leave a new trader scattered on their individual opinion vs. my opinion vs. an analysts opinion. Remember...THEY ARE ALL OPINIONS. We all know just how handy opinions are dating back to when we fired our stock brokers. So this post was intended to reach those who are worried about not understanding all the B.S that takes place on that channel. Don't worry, you can still trade productively without it.

Posted by Option Addict on 8/01/2006 at 9:13 AM | Permalink