"DON’T WORRY ABOUT NEWS. IT’S HISTORY"

DON’T WORRY ABOUT NEWS. IT’S HISTORY. I have never understood why so many electronic traders listen to or watch CNBC,MSNBC, Bloomberg News or FNN all day long. The “talking heads” on these programs know very little about market dynamics and market price action. Very few, if any, have ever even traded. Yet they claim to be experts on everything. Before becoming a “trading and markets expert”. the guy on CNBC reporting hourly from the Bond Pit, was a phone clerk on the trading floor. Obviously this qualifies him to be an expert! He, and others, can provide no utility to you. Treat it for what it really is… entertainment. The fact is: The reporting that you hear on the business programs is “old news”. The story has already been dissected and consumed by the professional market participants long before the “news” has been disseminated. Do not trade off of the reporting. It’s too late.