Let me first say, I apologize for the lack of content on the blog over the last couple of weeks. I’ve become extremely busy and as a result have been posting more of my charts and comments on social media rather than writing longer articles here.
I’ve been asked a couple of times about what sources and tools I use to trade and do research. While this is not a recommendation to use or endorsement for these services, sites, etc. I just want to share a view pieces in my toolbox….
Almost all of the charts I share on the blog and on Twitter/StockTwits come from StockCharts. They are a widely used site with some excellent charting tools and annotation capabilities that I find extremely easy to use. When I arrive to my office one of the first things I do is begin going through my chart book at Stockcharts.
While most of my charting is done through StockCharts, I keep ThinkorSwim (TOS) on my of my monitors during most of the day. Being one of the leaders in trading technology (owned by TD Ameritrade), ThinkorSwim has a clean aesthetic with reliable (in my opinion) pricing information. I use TOS to keep up with what’s moving on my watch list and portfolio, as well as intraday movements in things like the 10-year Yield, Gold, S&P 500, Volatility, and Crude Oil.
I would not be the trader I am today without the relationships I’ve built on social media; specifically through Twitter and StockTwits. I use Tweetdeck to keep up with my stream on Twitter, with one column dedicated to a small(ish) list of traders I’ve cultivated over the last few years. While I follow over 800 accounts, it’s this list that I keep my attention on and make sure to not miss what they have to say. I’ve learned a great deal from those active on social media, I owe them quite a bit.
Through my studying for the Chartered Market Technician designation I learned more of the importance of sentiment data. SentimenTrader is the gold-standard in my opinion for curating all that is sentiment, from surveys, to fund flows, to proprietary data sets, to COT data, they have it all. Each morning I make a point to read their daily newsletter and often learn something new about a market move I wouldn’t have been able to read about anywhere else.
I’ve cut back quite a bit on the amount of content I read. I use to track 50 or more blogs and new sites, not wanting to miss a beat. Now, I read just a handful and I feel I retain and know more than I do when the list was 5 or 10 times as long. I stick with Josh Brown, SeeitMarket, JC Parets, Barry Rithotlz, Jesse Felder, Abnormal Returns, Dash of Insight, DShort, Jon Boorman, Ryan Detrick, Michael Batnick, Dana Lyons, to name a few, as well as some of the major sites like Business Insider, Bloomberg, and CNBC. Honestly, Josh and Tadas do such a great time with their daily link fests that I mostly rely on them to scour the financial web for stories to read, big props specifically to both of these great guys.
While my main focus is technical analysis, I still follow economic trends and read what’s going on in the rest of the non-price movement world. My firm is a subscriber of Bianco Research, who puts out an excellent piece every morning and hosts a thought-provoking webinar every couple of weeks. Jim Bianco does a great job at combining news stories with his own commentary on the market and economy.
What good are we without the old standby that is Microsoft Excel. While I don’t use it as heavily for charting as some, Excel is still an excellent tool to analyze data.
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.