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Old 02-28-2009, 10:11 AM   #21
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Watched FBN this morning. There was complete agreement among the commentators that the S&P 500 would sink below 600. Pessimism isn't limited to CNBC.
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Old 02-28-2009, 05:01 PM   #22
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I like CNBC, watch it dailey. Rick Santelli hit the nail on the head last week when he asked if you wnt to pay for your neighbors bathroom. I also think Steve Leesman does a great job.
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Old 03-01-2009, 10:10 AM   #23
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Maybe it's because GE stock has tanked.

jr
I caught a trio of them a few weeks ago saying something to the effect of
" we are banned from ownership of individual stocks which we used to oppose vehemently....but not anymore!"

I think it was Herrera and can't recall the other two.
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Old 03-01-2009, 06:48 PM   #24
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While I can imagine how down they could be with much of their retirement plans in GE stock, I really think they deserve a lot of credit for remaining so positive about the current market. Day after day they (and a lot of speculator's money biding up equities in the premarket) cheerlead the market, only to have it slowly deteriorate over the course of the day before the last attempts to buoy it up at the close. I couldn't remain near as positive as they are. Then again, I'm sure their viewer base is better in a positive market than a negative one, so they are probably chosen to be as positive as possible no matter what they might really think. Years ago they used to have regulars on who were negative about the market like Jimmy Rodgers, but I think they found that presenting opposing views was not as important as ratings.
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Old 03-01-2009, 07:02 PM   #25
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Oh well.....we all view things differently. CNBC commentators are any but positive to me. But I admit, I haven't watched a lot lately. I can get enough info from the internet and I watch a little PBS news. As I mentioned earlier, The Nightly Business Report gives a good 30 minute recap of the day. A very neutral approach.
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Old 03-01-2009, 07:44 PM   #26
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CNBC and other tinfoil hats (including many on this forum) have proven that they are competent in forecasting economic problems. Japan is down 3% today, and the Dow futures are down 191 points. Positive news is very uncommon. U.S. banks have done irreparable damage to the global economy.
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Old 03-01-2009, 08:08 PM   #27
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Originally Posted by lightwaves
These Wall Street types need to squeal in pain if we are to see the changes most of this country is looking for.



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Which changes are those?
That is what I was wondering. Now I'm wondering if we will get an answer.


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Old 03-02-2009, 10:27 AM   #28
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I was just watching CNBC and the CNBC folks were asking if buy and hold is the wrong strategy. The two guests said, and I am paraphrasing here, that you should recognize the trend and either buy or sell based on the trend. So the CNBC folks asked if these gurus would be buyers at these levels and they said it was too early too buy and too late to sell. Oh, but they sold like a year and a half ago when the trends were turning.

These gurus are worthless. They always claim to see the trend, but when asked what they would do now, they don't have an answer. These are not people worth listening to.
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Old 03-02-2009, 11:22 AM   #29
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Bearish?

I just turned on CNBC for 20 minutes while eating lunch. I was treated to Larry Kudlow's 5 bullish mustard seeds, Trish Reagan saying "We are only down 220 now, maybe we will go green before the close". And they are running a special tonight "How to beat the bear" (that was the commerical segment). Then heard Dennis Kneale say "If anyone has a six months time horizon, you just can't beat these cheap bargains".

Had to turn that crap off.
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Old 03-02-2009, 12:39 PM   #30
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"Which changes are those?" Well how about tight government regulation of financial companies, punishment of financial crooks (hopefully),universal healthcare to relieve business of that burden, energy independence, improved education to allow our citizens to compete in 21st century, taxes to pay for this, honesty, compassion for those who are now in trouble....
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Old 03-02-2009, 12:50 PM   #31
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I just turned on CNBC for 20 minutes while eating lunch. I was treated to Larry Kudlow's 5 bullish mustard seeds, Trish Reagan saying "We are only down 220 now, maybe we will go green before the close". And they are running a special tonight "How to beat the bear" (that was the commerical segment). Then heard Dennis Kneale say "If anyone has a six months time horizon, you just can't beat these cheap bargains".
Whether bearish or bullish depends on the spin of the individual; there are both. One thing you do not get is "I think this will be an orderly range-bound market for a while." That doesn't excite people. That doesn't get the juices of greed or fear going, which is what makes a lot of people tune in these days.

Still, if I hear words like "once in a lifetime bargains" or "buying opportunity" one more time, I may projectile vomit.

One of these days I'll write up a CNBC drinking game. Being as early in the day as it is, maybe stick to screwdrivers, Bloody Marys and mimosas.
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Old 03-02-2009, 01:15 PM   #32
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"Which changes are those?" Well how about tight government regulation of financial companies, punishment of financial crooks (hopefully),universal healthcare to relieve business of that burden, energy independence, improved education to allow our citizens to compete in 21st century, taxes to pay for this, honesty, compassion for those who are now in trouble....
But not all of those should be causing the market to drop.

"universal healthcare to relieve business of that burden," should be positive for business

"energy independence",
hmmm, positive for some, maybe negative for oil companies (remember they are investing in new energy sources, they are not dummies)

"improved education to allow our citizens to compete in 21st century," business gets new employees better trained on the taxpayers dime? They should like that.

"taxes to pay for this" - well yes, that could drive the market down (it has IMO) - people will have less money to spend and less motivation and money to invest in growth

"honesty, compassion for those who are now in trouble...." I didn't know that could be legislated.

"tight government regulation of financial companies," - I dunno - they are getting bailout money, so overall is it a net gain or net loss?

"punishment of financial crooks (hopefully)" - since they only make up a portion of the market, and are a small minority, I'm think that overall the market would welcome this - it should mean more growth potential and stability overall. Crooks are bad.


Please clarify - I don't know if you are just talking the announcers on CNBC (I don't watch), or are you (also) talking about the market reaction to Obama's plans (I do watch, I should stop that too!)? That his plans have them scared (or something) so the market drops in response?

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Old 03-02-2009, 02:48 PM   #33
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Whats scary about this thread is the number of people who think clowns at CNBC really matter. Does it make them matter if people think they do?
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Old 03-02-2009, 03:31 PM   #34
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Whats scary about this thread is the number of people who think clowns at CNBC really matter. Does it make them matter if people think they do?
If you have been on the floor of the NYSE, CME or in any business office near Wall Street - every TV is tuned to them during stock market hours.
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Old 03-02-2009, 04:49 PM   #35
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improved education to allow our citizens to compete in 21st century,
This country will never have widespread quality public education. The teachers' unions, the misguided BS taught at schools of education, our demographic and imigration statistics, and the prevailing political sentiment to deny reality will prevent it.

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Old 03-02-2009, 08:34 PM   #36
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A commentator on FBN--I think his name is Tobin Smith--has changed his S&P target from 660 (Saturday) to 600 (yesterday) to 500 (today). I am sure he'll be in negative numbers by the weekend.
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Old 03-02-2009, 11:06 PM   #37
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ERD50----

But not all of those should be causing the market to drop.

"universal healthcare to relieve business of that burden," should be positive for business.

- But people are worried about the supposed extra cost of it and the health care related companies that may have profits squeezed. Still this is better than the alternative we have today.

"energy independence",
hmmm, positive for some, maybe negative for oil companies (remember they are investing in new energy sources, they are not dummies)
- this should be a postive for all but I doubt many wall streeters look at it that way. For some it is drill baby drill to help existing resource companies.

"improved education to allow our citizens to compete in 21st century," business gets new employees better trained on the taxpayers dime? They should like that.

-Taxes used to fund this are a concern to many but resources along with new methods are needed particularly in poorer parts of the country but also middle class areas.

"taxes to pay for this" - well yes, that could drive the market down (it has IMO) - people will have less money to spend and less motivation and money to invest in growth

-True. We need taxes to pay for these initiatives and spending cuts as well in areas such as defense and farm subsides to wealthy farmers and many otherthings.

"honesty, compassion for those who are now in trouble...." I didn't know that could be legislated.
Compassion is in terms of extending foodstamps and unemployment insurance which the Herbert Hoover crowd seems to be against cause they want the chips to fall where they may. Let them fight off the angry mobs if we go the laisse faire route.

"tight government regulation of financial companies," - I dunno - they are getting bailout money, so overall is it a net gain or net loss?
-Wall street is totally fearful of regulation. Just listen to CNBC for an hour. Most are still in the total free market ideology believe it or not.

"punishment of financial crooks (hopefully)" - since they only make up a portion of the market, and are a small minority, I'm think that overall the market would welcome this - it should mean more growth potential and stability overall. Crooks are bad.

-Hope you are right but I have my doubts. Glad Cuomo is trying to ferret out the crooks at least to a small extent.


Please clarify - I don't know if you are just talking the announcers on CNBC (I don't watch), or are you (also) talking about the market reaction to Obama's plans (I do watch, I should stop that too!)? That his plans have them scared (or something) so the market drops in response?

-I am talking about Obama's plans which are scaring the hell out of Wall Street talking heads on CNBC. Have not heard a positive comment yet. These folks are totally thinking short term. But CNBC is geared to think that way anyway (ie 3 minutes of discussion then 2 minutes of commercials.

Lightwaves
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Old 03-02-2009, 11:19 PM   #38
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A month before the crash CNBC commentators sat around a table and RANTED about how the silly government was threatening to regulate Wall Street more. A month after, the same guys were at the table RANTING about how it was all the fault of the government for not regulating.

I turned it off and will not go back. Was it Bogel who called them the porn of the financial news world?
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Old 03-02-2009, 11:32 PM   #39
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-I am talking about Obama's plans which are scaring the hell out of Wall Street talking heads on CNBC. Have not heard a positive comment yet. These folks are totally thinking short term. But CNBC is geared to think that way anyway (ie 3 minutes of discussion then 2 minutes of commercials.

Lightwaves
OK, thanks. Just trying to take it one step further then - I don't listen much to the talking heads, so I don't really know (but I'm not surprised at what you say), but at any rate, the market is reacting negatively to the plans also. They seem to be in sync in then.

Pseudo-journalists aside - wouldn't you think that if the plan had a solid chance of growing the economy, the market would respond positively? They do seem to be afraid of increased taxes. But that is because they see that as slowing the economy, not stimulating it. So, if we are going to see the market rise, don't we want to hear that there won't be tax increases?

And for the record, I should be far from being affected directly by any taxes on $250K MFJ income levels, so it's not a personal thing. I want what is right to grow the economy.

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Old 03-03-2009, 03:56 AM   #40
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Quick comment...

I have recently concluded that becoming an adult is listening to yourself and not abdicating responsibility for your actions. Bottom line... there are no "experts" only 3-piece suits. With a little research, I reckon I'm as smart as the best that the world has to offer. I mean, I didn't see this "crash" coming, but neither did the "experts".

If I'm not mistaken, you all sound pretty smart to me so far based on your comments.

Cheers,
Steve

P.S. Oh, but keep in mind that I've only posted twice so far, so I could be wrong!!!
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