Q: While completing the Peak Performance Course I have learned quite a lot about myself and have found some great references. I tend to miss some of the big picture aspects of the market place and am interested in learning more about economic data. I need to gain a better understanding of how the various weekly and monthly economic reports tie together to paint a picture of the underlying trends that will impact the marketplace. Are there any good references that you could recommend I read to gain a better understanding of this topic?
A: I find that the challenge is not so much locating data but more specifically deciding what data you want and how will you use it. First, think in terms of what you want to measure and monitor. How will it influence your trading? Once you have written out your answers, then go look for that information that would be useful to you.
As for me, there are two sources of regular information that I find generally useful for assessing the big picture.
The first is Van’s monthly market update, which he publishes in the newsletter usually on the first Wednesday of each month (see above). The information itself is useful but so is Van’s construction of the report. If you don’t care about part (or all) of his report, you can drop that and create your own.
The second source I find very useful is John Mauldin. Mauldin publishes a free newsletter each week where he writes about complex macro-economic matters in an easy to understand way that economists typically have a hard time doing. Interestingly, Mauldin has no economics PhD. Mauldin regularly cites other writers and reports that you can look at yourself to see if they would be useful to monitor on a regular basis for your big picture process.
You can sign up for his newsletter here: http://www.frontlinethoughts.com/gateway.asp
Remember, consider the objectives for your big picture first and then go look for the information.
RJ Hixson
