Here are a couple other tels the market told us yesterday.
People ask me can you learn anything by watching CNBC this is what I learned early yesterday.
1) Suddenly the orange 5 points over a record started blinking and flashing. As we have discussed before until we act like we have been here before which we have we are never going to slice through.
2) A chastened Bob Passani who last time had to be given an early vacation when he cheered at 14,000 and all but guaranteed higher prices only to lose a quick thousand points-- well he signed off " Check My Blog " I almost fell out of my chair.
3) Mark was on the floor with that heavy set lady who is a floor broker. She does not have nare a brain cell in her head. She was quite worried during the Housing Mortgage collapse now she is quite bullish. Why? Mark pressed her... " well I'm doing pretty good and my friends are... " she mumbled. Complete disconnect from reality and a good contrary indicator.
4) Sue Herrarah was all a twitter, The Dow was taking back everything it had lost and things were looking wildly bullish.....
CNBC is The Easiest contrary indicator out there.
No doubt they revved up the hype because FOX is starting to run commercials with has been Neil Cahuto and a bunch of sexy ladies pushing their business channel... Once againCNBC is left with egg on their face.
And once again it's vacation time for Dear Mr. Passani. When will they learn? ~ stoney
People ask me can you learn anything by watching CNBC this is what I learned early yesterday.
1) Suddenly the orange 5 points over a record started blinking and flashing. As we have discussed before until we act like we have been here before which we have we are never going to slice through.
2) A chastened Bob Passani who last time had to be given an early vacation when he cheered at 14,000 and all but guaranteed higher prices only to lose a quick thousand points-- well he signed off " Check My Blog " I almost fell out of my chair.
3) Mark was on the floor with that heavy set lady who is a floor broker. She does not have nare a brain cell in her head. She was quite worried during the Housing Mortgage collapse now she is quite bullish. Why? Mark pressed her... " well I'm doing pretty good and my friends are... " she mumbled. Complete disconnect from reality and a good contrary indicator.
4) Sue Herrarah was all a twitter, The Dow was taking back everything it had lost and things were looking wildly bullish.....
CNBC is The Easiest contrary indicator out there.
No doubt they revved up the hype because FOX is starting to run commercials with has been Neil Cahuto and a bunch of sexy ladies pushing their business channel... Once againCNBC is left with egg on their face.
And once again it's vacation time for Dear Mr. Passani. When will they learn? ~ stoney
