The 5 best Newssites for trading
There are millions of News sites on the web but a lot of them just repeat content from other sites, so which one is original and comes up with ideas that can really be traded? Here are a few we like a lot since these websites all have something we need for our trading style.
The Wall Street Journal (WSJ) Obviously this is a classic but we like a lot about the Wall Street Journal. First of all they are close to the action most of the time. Then and this is by far not normal they have a opinion but they also spread facts not their opinion. This makes it easy for us to follow up on an article and come with our own opinion about trading a situation or not. They also cover a wide field and most WSJ journalists are trained professionals. The section we like most is The small business section. When you read through the articles you get a good idea of what is going on in the small business world and more than once we found original ideas that later proofed to be a real success and found their way into big corporations.
Briefing.com Briefing . Like The Wall Street Journal Briefing also covers a huge cross section of the market but they do it in a different way. They are a ticker agency so most news are related to market behaviour, they are short in nature and they follow the market flow. Again they might have an opinion but in most cases they tend to stick to facts. It doesn´t cost a bunch so we like it for those reasons as well as the information we get there.
CNNFN.com CNNFN . Say what? Why do we like CNN Financial Network? Well, this one is easy we like it for its mass indication. We are not reading all the latest news on their site since most of it can be read in the above websites but we like the main headline on top of the page. Most of the time it tells you a lot about the market condition. If that headline deals with the market itself you can be assured that the market is interesting and can be traded on that day. But when the top news deals for example with the retirment pay or a new hybrid car you know that you should shut down your computer and not trade that day. That is the main reason we like this site a lot.
SEC.gov SEC . You probably think now we´ve lost it right? How can we like the U.S. Securities and Exchange Commission? Well it is the door to latest corporate filings. Given, this one requires knowledge about what you are looking for but there are a few really good websites doing the job for you. Let´s take a look at Streetinsider for example. They do a great job on sifting through all the SEC 13 G Forms( Scheduled filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions), so you as an investor get a good look into what is bought by whom in the investment world.
Another site is SECDataguy which deals with a lot of information about SEC reports. SECDataguy finds the inconsistencies and that might help us a lot by not trading these companies.
One more site to mention is Footnoted . We like the site a lot, since they always find weird things, inconsistencies and plain stupid things in official SEC reports prepared by corporations out there. Footnoted does a great job in showing us the highlights. So you see, the information might be available at SEC.gov but without a working knowledge on what to look for you might be better off going through websites already dealing with that information.
Seeking Alpha Seeking Alpha . This is one of our favorites. Seekingalpha does a great job on finding the right trading idea. They provide background stories, facts and their opinion in a healthy mix and if you have no idea at all what to trade today, after reading through a couple of their articles you will have seen new opportunitys and different opinions of what to trade. We like and do trade their ideas.
Obviously the above websites are not all newssites in the trading universe but they have helped us to better trade and you should at least try them out.
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