Trading usually employs a "technical" approach to markets (acting on patterns of price, volume, time) rather than the "fundamental" approach typical of longer-term "investors" (acting on EBITDA, balance sheets, PE, news).
Regarding news. Often the price and volume over time reflects the news, well in advance of the actual release of news. Traders tuned into price, volume and time often find that most "surprise" news tends to work in their favor. This may be because technical traders trust price, volume and time patterns to tell them everything they need to know about the probabilities of pending price moves.
The works of John Murphy are a good place to start learning about price, volume and time.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (Hardcover)
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