I was talking with one of my friends the other day about how well I was doing in the stock market over the past couple of weeks. After discussing all the things I might have been doing differently, the one thing that stood out to me was the lack of major third party research. What I mean by this is that, during the past couple of weeks, I haven’t even flipped to CNBC or visited any major stock site (e.g. MarketWatch, WSJ).
Any news about the market that I have come across has either been through some personal blog or Google Finance. Right now I could probably tell you very little about the current economic condition besides that it is doing bad. My current watch list has just been killing it, and through technical analysis I have been able to do exceptionally well.
We really couldn’t think of any valid reasons for why this might be, but one conclusion we came to was that by eliminating useless news I wouldn’t necessarily need I have been able to focus on a smaller group of stocks. Also, through visiting personal blogs, it was most likely that any major news would have come to my attention.
Perhaps we should make nothing of it, but for now I just may consider putting a lock on CNBC.