Hi, I was wondering if you could help me understand why certain news items seem to be delayed on the IQ feed versus when the market reacts to them.
For example, MU (as in Micron Technology stock) just announced earnings after the market close today. You can see the market action in the attached screenshot. Screenshot also available here:
http://dl.dropbox.com/u/17960935/MU_chart.jpgThe following appears to be the sequence of events:
16:05 - 16:06: MU earnings are released and the market clearly reacts with moving the price down. Interactive Brokers indicates a Reuters news item around that time that contains the earnings (marked with a yellow triangle in the middle of the price bar).
16:07:00 GlobeNewswire *claims* to have released the earnings release at this time. See link
http://www.globenewswire.com/newsroom/news.html?ref=rss&d=23364016:07:57: I see the newswire item on the IQ newsfeed and retrieve it through the API. StoryId = 21248047353. That time corresponds to the closing price of the price bar immediately above the mouse cursor in the screen shot. Not a great time to make a trade.
So, there appears to be somewhere btw 2 and 3 mins delay btw when the news hit the market and I received notice of it. There appears to be an almost 1 min delay btw when Globenewswire claims to have released the news and IQ feed delivering it.
Thanks
"I hear and I forget. I see and I remember. I do and I understand."
-- Confucius