Everybody is looking to gain an edge on the market, especially with social media. Twitter allows investors to follow news outlets and research groups, giving them tips and recommendations that can influence their trading decisions. Business Insider reported that, in more than one instance, stories have appeared on a reporter's Twitter feed before it appeared on the actual website. The News of the World story involving James and Rupert Murdoch, as well as the Costa Concordia disaster, broke on U.K. Twitter feeds before they were widely known by the investing community.
Business Insider also demonstrated this in their story about a reputable Twitter feed that reported the Greeks had a reform deal, before the news hit the wires. They demonstrated, with a chart of the euro, how the story broke before a spike in the price, giving savvy traders a chance to make money before the market caught on.
Although it's true that finding that one early tweet in the sea of millions of constantly updating feeds probably isn't the best way to make money, using Tweetdeck or another similar technology to filter out the unimportant information is a tactic being employed by money managers.
You may not have time to watch the Twitter feeds all day, but some of the larger, commercial feeds are worth watching when you can. Here are a 10 worth adding:
@cnbcCNBC is a financial news network providing real time business information to 340 million households worldwide. Its 24-hour coverage is geared towards the individual investor as well as those with a higher level of experience.
2. @benzingaBenzinga provides real time coverage of financial news, analyst upgrades and downgrades, and technical events like price breakouts or unusual volume.
The active trading community knows about stocktwits. Stocktwits is a real-time feed allowing investors from all over the world to post what they're seeing and how they're trading right now. The Twitter feed has some of the highlights from those conversations.
Looking for stocks that have broken out to new highs or lows? This feed will provide you with new research ideas. This is not a major media outlet, so the information may not be as entirely reliable.
Bespoke Investment Group has become one of the most well-respected research firms on Wall Street. Check out its website for its easy to read reports and follow it on Twitter so you know when new reports appear on its site.
Investors know the value of The Wall Street Journal for up to the minute news stories. WSJ has a variety of feeds but @WSJMarkets provides real time market news as it happens.
If you're a fan of Jim Cramer (@jimcramer) you would be interested to know that Stephanie Link is his director of research for his charitable trust, Action Alerts Plus, and a frequent contributor on CNBC.
The New York Times business feed provides up to the minute market news as well as other notable events. Not all media outlets report the same important news, so having many of the major outlets in your feed is well advised.
Investors Business Daily is a daily publication specifically for the individual investor. Its feed is frequently full of new trading ideas.
If you're interested in mergers and acquisitions, follow this feed. The Wall Street Journal provides commentary on M&A, IPOs and private equity activities.
The Bottom Line
The above 10 feeds represent some of the most popular and commercial feeds, but there are countless numbers of traders who also use Twitter to broadcast how they're trading on a market day. Find the traders who have a track record of success and follow their tweets as well.