The major players do not rely on news services for their tactical decisions, they have their own analysts and use a "use a boots on the ground" method. They send their own people to the companies to review processes, products, and prospects.
Individuals watch the news and make decisions. Those individuals may not mean much with their individual trades but remember "an avalanche starts with just one flake". Individuals are usually in mutual funds. If enough individuals get nervous and put sell orders in the mutual fund manager has to sell his positions to cover the client redemptions. Sometimes this means the fund looks to be losing when in reality it is in a great long term position. But then 10,000 other individuals get nervous and sell.... <insert painful cycle here>
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Getting knocked down is no sin, it's not getting back up that's the sin
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