Serious dilemma. Either I wake up at 5am to catch pre-market developments, or I accept that by 9:30am everything is already priced in. This can't be sustainable. What's your move? The analysts who seem "on top of everything" - are they just not sleeping, or do they have a system I'm missing?
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Pre market stuff doesn't really start coming out until +/- 630. By 8/830 most major pieces of news should be out.
Unless it's some major surprise (fraud, a deal out of the left field, etc.) you should ideally be prepared for the range of outcomes for your premkt news... if it's earnings, you have your bear, base, bull cases.. quickly compare those to what's reported and send off a note to your PM who is likely going to be on your ass to know how to trade the position. If it's some asset sale, you similarly have your bear base and bull outcomes for proceeds expected and compare that with what was announced and send off a note. Unless it's some major surprise announcement no pre mkt news should take you 2-3 hours to go through. And like someone else said unless you're covering EU names there's no need to be up at 5.30am to cover anything
Exactly — it’s all about having your bear/base/bull prep ready. Most of the “pre-market panic” stuff isn’t worth losing sleep over.
I have another perspective regarding the news skimming/reading:
Unless it is some very major news in the opposite direction, which acts as a Black Swan assuming research was sufficient (no need to assume superior), then it is better to cut back on the position.
You do not need to worry about random fluctuations, noise (and ofc this is something all of us strive for elimination), and positive news. Just negative news. And negative news tend to me major news that are too hard to ignore.
For me, that reduces the scope of the news coverage.
For example, you were long Peloton back in the beginning of 2020 because it was so hot. Then the stock collapsed mid?-2020. Suppose it released the news at 3:47am. Nobody is awake at 3:47am.
The problem, I believe, was not neglecting the very negative news piece, but a wrong thesis in the first place.
Just ask ChatGPT on how your specific industry is affected.
Interested to know if Chat actually does well with market/ sector updates or if it's just slop.
Just ask chat to post the links to the sources and then you can fact check the sources.
My advice: Automate the crap you can, track the real movers, and save some sleep; being awake ≠ being informed.
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