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Turn Off The News - The News Doesn’t Matter
In our Market On Close note yesterday within our new Cestrian Inner Circle service, we demonstrate once again how the news doesn’t matter to stocks, a claim often made by technical analysts. Actually, this isn’t quite true. Events matter a great deal; but the buildup to those events is often well known amongst market bigs, who are pricing them into their accumulation and distribution of securities inventory way before these events ever hit the news that we, the little people, get to see. By the time news of the events is on the TV, the Internet or the “newspaper” (Google it, young ‘uns), you can’t react to it correctly, because the big liquid securities already reacted. This isn’t something weird or something that is ever going to change. It is the job of the bigs to be woven into the fabric of power. If you’re Larry Fink, and you didn’t know a military revolt was brewing in Russia a week or two before CNBC told you? Then you’re way off of your A-game. We used NQ futures to demonstrate this in that note. You can see it here if you’re a member of Inner Circle. If you’ve yet to join up? Prices rise on 1 July from $199/mo or $1599/yr today to $249/mo or $1999/yr, so, if you think you might be interested, watch the tour and consider joining. The service is growing like a weed, our fastest-ever performer.
OK. Let’s take a look at the indices, as usual for our paying members here.