CNBC 24/7 Trading: Around the Clock, Around the World [Secure eReader]
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eBook by CNBC & Barbara Rockefeller
eBook Category: Business
eBook Description: The definitive guide to trading in the digital age from the world's most trusted financial news network No matter how hectic the trading got, an investor could always expect respite when the four o'clock trading bell sounded. No longer! The Internet has turned investing into a round-the-clock occupation--twenty-four hours a day, seven days a week. Profits are just waiting to be made somewhere, any time of day or night ... if you know how to find them. This book, drawing on the respected resources of CNBC and written by financial expert Barbara Rockefeller, shows individual investors and traders just how to exploit these new opportunities. Rockefeller orients readers to the new markets and the new technology, and explains the challenges they present and the strategies that work best inside the United States as well as overseas. Finally, she provides a model 24/7 portfolio anyone can apply to their investing style--including a practical plan of action in the event of a market correction. As up-to-date, savvy, and accessible as CNBC's television programs, this is an auspicious debut of a sure-winning new series. CNBC, the immensely popular cable channel that delivers up-to-the-second market news, has broken ground in the finance and investment media world. CNBC and Wiley are proud to launch the CNBC book series with this initial title, 24/7 Trading.
eBook Publisher: John Wiley & Sons, Inc./John Wiley & Sons, Inc., Published: 2001
Fictionwise Release Date: December 2002
GETTING ORIENTED IN THE NEW 24/7 WORLD
What does "24/7" mean? In everyday conversation, it means being ready for whatever comes, 24 hours a day, seven days a week. The term was originally used by the police, military, and hospitals to describe emergency situations, and many investors today want to be able to act -- and therefore trade -- in the same round-the-clock way. In investing, "24/7" means having an ability, almost all the time, to see and act on live prices and events.
Nasdaq chairman Frank Zarb says, "In a few years, trading securities will be digital, global, and accessible 24 hours a day. People will be able instantly to get stock-price quotations and instantly to execute a trade, day or night, anywhere on the globe, with stock markets linked and almost all electronic." Zarb thinks as many as 500 companies will be tradable 24/7 within three to five years.
The advent of 24-hour trading doesn't mean you must trade 24 hours a day, only that you can. The entire world is at your fingertips, day or night. So if you have a flash of blinding insight at 4:15 A.M., you can act on it immediately instead of having to wait for "the market" to open -- "the market" being, for most readers, the U.S. markets.
Another insight might arrive at 4:15 P.M. It may come from a news release, a morning newspaper you don't read until the afternoon, or a corporate earnings announcement embargoed until "after the close." The New York Stock Exchange is open for business from 9:30 A.M. to 4:00 P.M., Eastern time. So if you are in San Francisco, Tokyo, or Istanbul, the "regular" hours of the NYSE are inconvenient to begin with. Even for investors in the Eastern time zone of the United States, keeping up with prices and events during a workday can be difficult. Many working people can't watch CNBC at the office and can't access financial sites on the Internet at their desks. In other words, unless you work in the finance industry and can watch CNBC and track financial Web sites during the workday, you're probably trading during evenings, nights, and weekends -- when, obviously, the NYSE and other U.S. markets are closed.
Copyright © 2001 by CNBC