So Laslo Birinyi just called the bottom on CNBC...

I used to pay attention until he became a perma-bull. Like 2002? He's out of his farkin' mind. (He's probably loaded long, STUCK UP THE ASS, and talking his book/hope.)
 
Big picture - the daily's on all the index ETFs just gapped above the 100, some above resistance and are forming a doji of sorts. CNBC heads are all about the bottom today.

Could be a nice bull trap.

Careful out there. :D
 
Birinyi is an extremely sharp, intelligent guy. Not to be dismissed lightly. That doesn't guarantee he's right but he's been at this game for a long time and he knows what he's talking about.
 
Quote from DeepFried:

Birinyi is an extremely sharp, intelligent guy. Not to be dismissed lightly. That doesn't guarantee he's right but he's been at this game for a long time and he knows what he's talking about.
More...

Lots of "smart guys" have gone down in flames. His assertion that this market is "like 2002 bottom" is totally ridiculous.
 
A bottom???

Why didnt Laslo call the bottom on Jan 22nd or March 17th.....


Always AFTER the fact the markets have gone up do they call a bottom, if that was the bottom then I guess we can expect 14k before Summer, and a run to 16k by end of 2008, I guess the credit crisis and higher energy prices will be pushed aside so that the DOW can just break new highs........

By the way, the bottom isnt in yet....


:D
 
As far as I'm concerned, no one has more credibility than Peter Schiff. He's a professional "bubble caller" and sees a long way for this bear market to run.
 
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