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 a one lot in any pit on any exchange. 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 before news has been disseminated do not trade off of the reporting. It’s too late.
Nifty Futures Calls
(Updated on 04-06-2012 Time 8.50 AM)
As expected in last session NF remained below 4920 and it after taking
out 4885 it plunged down to 4815.
We had written lower levels are 4844-4826.
Given the foreign markets worst still don’t seem to be over.
Now For Today…
Trading below 4782 will drive it even lower to 4754-4732.
If sustained below it may open the door for even
dipper levels to 4715-4680.
4840-4848 are upward barrier.