Reason #2: Twitter is a great place to read market sentiment
The markets are supposedly a construct of the global sentiment of everyone in the world. At least it’s the closest thing to a global pulse we’ve got.
But what is it? How do you read it?
My friend Howard Lindzon, owner of the Twitter-clone for finance Stocktwits, was once asked on CNBC to talk about Stocktwits. The host wanted a simple sound bite and was aggressively trying to get him to answer the question on how you "use it [stocktwits being it]". She wanted to know if you can buy and sell simply by following some simple metric in the system. He tried to explain to her how complicated it is, and that you need to pay attention, engage and participate in order to get something out of it. She didn't really care, but his points were exactly right.
In order to get a good read on sentiment, be it on the Tesla stock or on markets in general, you need to pay attention and talk to other people. That's it.
And if you do, you can get a very good read on what people are thinking - as a whole.
If you don’t want to spend your entire day figuring out what the sentiment of the markets are, you can use some proxies to get a feel for what people are thinking, by following these users:
@finansakrobat – hey, that’s me!
Get the best of finance on Twitter
Infront Tweetwires is a free service that gives you the best of financial news and sentiment from Twitter, with no Twitter account required. Try it for yourself: