One of the primary reasons why it is so crucial to strictly adhere to your tailored made rules when it comes to daytrading is some sort of absence of professionalism in financial news providers. You really don't want to always listen to them and make business decision. News media has become indistinctly speculative .What I mean by that is that they are slowly killing their original purpose as a credible provider of objective, I repeat, objective, information.Their primary target is money. They need as many viewers as possible to tune their channel in order to keep their business runnig. And to achieve that, they need sensational news, which can be very tricky and can only cause harm, especialy in such a difficult times like these. For this reason, I have followed 2-3 major unnamed business media sources, who by the way very often copy from each other without making relevant effort worth their name, with their "hot" headlines of crude oil futures for the period between 11th of June to the 24th of July.We are talking about economy reports from supposedly most reputable media providers within just six weeks . Needless to say that these are very sensitive times with regards to the state of global economy. We are talking about people who got this power to shake the system if they want to and thus I would like to think that this is exactly the place where credibility, responsibility and health and wise judgments are top priorities. Well, sadly, here's what you'll get!
"OIL CLIMBS ABOVE $72 ON ECONOMIC RECOVERY HOPES"
"OIL FALL TO NEAR $69 AS OPTIMISM ON ECONOMY WANES"
"ECONOMIC RECOVERY HOPES TAKE OIL ABOVE $66"
" OIL FALLS NEARLY 4% ON WEAK U.S. ECONOMY"
"Crude oil rose for the first time in three days on signs of recovery from the global recession, prompting optimism fuel demand will increase."
"Crude oil in NY may fall below $45 a barrel by the end of August as the global recession stalls a recovery in fuel consumption in the U.S. , the world's biggest energy user", **** said.
"Oil rose slightly to settle above $63 Monday as optimism about a potencial global economic recovery lifted markets and expectations of a turnaround in fuel demand."
"OPEC's 2009 world oil outlook added to the gloom as it said world demand for oil make take years to recover from the slump of 2009 because of economic weakness and demand destruction."
"Crude oil in NY may fall below $45 a barrel by the end of August as the global recession stalls a recovery in fuel consumption in the U.S. , the world's biggest energy user", **** said.
"Oil rose slightly to settle above $63 Monday as optimism about a potencial global economic recovery lifted markets and expectations of a turnaround in fuel demand."
"OPEC's 2009 world oil outlook added to the gloom as it said world demand for oil make take years to recover from the slump of 2009 because of economic weakness and demand destruction."
CHARTS PREDICT: Oil Rally Set to Break $78
CHARTS PREDICT: GET Used to $50-$70 Oil
Oh boy....
Somebody does really lousy "job" out there. One would think it's damn funny. But it is really not. It's actualy everything but funny. It is frustrating. It's even more sad, that these people often like to call themselves experts, top analysts, pro's and yet proudly taking themselves very seriously. Some people may call it profession. With all respect, I call it outrage, conceit and unfortunately even the lack of education, bringing very little value to the business. Like the real Pro's say....every child can come up with some conclusion on the left side of the chart.
But not to be only critical, fortunately for us, there are still some out there who do their job right, minor percentage of those who still are capable provide serious and credible supply of informations and can be trusted.
Thus, listen to the others but make your own conclusion, keep your ears and eyes open, you be the boss of your decision. That's how winners play.
nice article
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