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Old 02-02-2013, 11:16 AM   #41
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That's why I don't watch CNBC.
+2. I once watched CNBC exclusively every weekday morning while working out-shaving/showering-eating breakfast, but I never watch it any more. 5% news, 95% fill - much of it unintentionally misinformation.
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Old 02-02-2013, 11:50 AM   #42
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I took a little profit as my AA was off just a few hairs.

Can't pass up hairy profits don't ya know.
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Old 02-02-2013, 01:46 PM   #43
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Did anyone see CNBC near the end of the day today? It was very disturbing. They had a breaking news flash across the screen that stated:

"Stocks rally as disappointing jobs report fuels speculation of more fed buying"
I think it's a case of "I need to make something up that's sound intelligent" as opposed to admitting I just don't know.
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Old 02-02-2013, 02:52 PM   #44
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This is my view also. The increase in the DOW numbers is artificial. This is one of the reasons why I won't buy into it.
Cesarian sections are artificial too, but I'll bet you do them every day.
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Old 02-02-2013, 02:56 PM   #45
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Well, I'm 15K Euros down on the week, all due to the Euro continuing to be insanely strong. When it hit $1.34 my bank asked if they should convert some cash from EUR to USD and I said yes, it can't rise much more (plus, I was about to buy a USD-denominated fund); it's now $1.36. We have a couple of inheritances coming in GBP which has dropped almost 10% against the EUR in the last 3 months. For the last 18 months everyone has been very rude about the Euro, but it seems to be doing better (from its point of view!) then ever... it's even gone above the floor of 1.20 against the Swiss franc that the Swiss imposed when the Euro crisis was at its height in the fall of 2011.
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Old 02-02-2013, 05:11 PM   #46
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+2. I once watched CNBC exclusively every weekday morning while working out-shaving/showering-eating breakfast, but I never watch it any more. 5% news, 95% fill - much of it unintentionally misinformation.
A few years ago I came to the conclusion that it was actually intentional misinformation (or at least intentionally misleading) - a.k.a spin. Haven't watched since.
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Old 02-02-2013, 05:52 PM   #47
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Well, this is about the time the predictors and book writers come out of the closet to sell either gloom and doom or happy days are here again. Recently that nut bag Harry Dent has predicted a big downturn in summer of 2013. He is saying we are going to 3000. This is from the same guy that said we were going to 40,000 a few years ago.
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Old 02-02-2013, 06:56 PM   #48
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A few years ago I came to the conclusion that it was actually intentional misinformation (or at least intentionally misleading) - a.k.a spin. Haven't watched since.
Probably so. I watched it religiously when I started ER 10 years ago. (had to keep an eye on my nest egg you know and these folks know what's going on). After some months I realized that all that was accomplished was my blood pressure went up. Damn little useful information ever offered. I haven't watched it for years now and I certainly don't miss it one bit. My NW has continued to go up quite nicely without their tender mercies.
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Old 02-02-2013, 07:07 PM   #49
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I only watch CNBC to see Maria Bartiromo.
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Old 02-02-2013, 07:19 PM   #50
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I only watch CNBC to see Maria Bartiromo.
Why?
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Old 02-02-2013, 08:26 PM   #51
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Well, this is about the time the predictors and book writers come out of the closet to sell either gloom and doom or happy days are here again. Recently that nut bag Harry Dent has predicted a big downturn in summer of 2013. He is saying we are going to 3000. This is from the same guy that said we were going to 40,000 a few years ago.
Wait! In March of 2011 he said we might go down to 3300 after a summer (2011) rally. Are you sure this isn't just recycled? Fat good it did him last time.
Harry Dent 3-31-2011: “Major Crash” Coming for Stocks, Commodities Already Topping Out | Fin - Daily Ticker - US - Yahoo! Finance

Oh - wait - here's his Jan 2012 Market Forecast
Quote:
Harry S. Dent's January 2012 Market Update
By pej at 04:49
Harry S. Dent published his market forecast for the coming year on January the 11th (available on YouTube).

Summary:

Time to get out of stocks NOW.
Austerity is the right policy from his point of view, even if it means short term pain, but can avoid long term insolvency.
Worldwide slowdown coming
4,000,000 foreclosures in the pipeline, which banks have been holding down.
By the time the Fed reacts with Q3, it will be too late.
This looks like the final rally. Where do we top is the final question. 1371 is the top of the range they forecast.
The USD will rally while equities, commodities including gold, and real estate will fall massively.
from Reality Lenses: Harry S. Dent's January 2012 Market Update

His recent predictions graded on wikipedia: Harry Dent - Wikipedia, the free encyclopedia
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Old 02-02-2013, 11:32 PM   #52
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Well, all that QE money has to go somewhere. Hence stocks go up.
All that QE money is buying the US gvmt debt... not going into the stock market...


Now, with interest rates so low, some others are putting more into the stock market...
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Old 02-03-2013, 12:32 AM   #53
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Price to earnings ratios are still below average. BECAUSE earnings have been up up up. And companies re sitting on record piles of cash....Demographics also predict an ever increasing. Umber of new families coming down the pike. HARRY Dent was on CNBC peddling his gloom and doom and when pressed even he admitted that low low Dow number would not last.. It would be a bottom, but one that would almost instantly bounce back up....so he is really just trying to scare some folks to try some short selling.
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Old 02-03-2013, 08:27 AM   #54
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Where are we?
Hilarious and true, at least for me...RE did you pick my brain, and then post this chart as your own. That is plagiarism... That is why I just DCA a bit each month, to avoid all those thoughts you on the curve you wrote.
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Old 02-03-2013, 08:32 AM   #55
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Hilarious and true, at least for me...RE did you pick my brain, and then post this chart as your own. That is plagiarism... That is why I just DCA a bit each month, to avoid all those thoughts you on the curve you wrote.
I plagarized stole shamelessly borrowed that from another forum member as it really nails the thinking of way too many individual investors - and serves as a reminder why I need to stick to my AA and rebalancing plan.
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Old 02-03-2013, 07:55 PM   #56
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The Ravens are killing the SF 49ers. Oh, no!! Have you heard of the Super Bowl indicator? In 80% of the time, the stock market goes up in the year the NFC won the Super Bowl and declines if the AFC won. Let's hope this year, it is the 20%.
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Old 02-03-2013, 11:09 PM   #57
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But the Ravens were originally an NFC team so the market will definitely go up. Whee!
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Old 02-03-2013, 11:23 PM   #58
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I think it's a case of "I need to make something up that's sound intelligent" as opposed to admitting I just don't know.
While I agree about them making/filling their news with made up assumptions, I can tell you I have heard from multiple people in the financial industry this exact line. My favorite quote that I have heard this year so far is "Can you imagine how bad stocks will do if the economy starts humming again" (referencing the effects of ending qe and the fed exiting).

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All that QE money is buying the US gvmt debt... not going into the stock market...
This is true, but you have to remember that buying bonds creates more money in circulation which increases the prices of real goods/companies. The shear addition of more money is definitely a positive for stocks.

Definitely agree with your statement about the interest rate effect. Misallocating capital, just like good ole Ben Bernank likes it.
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Old 02-04-2013, 06:42 PM   #59
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Oh well, it was nice while it lasted!!!

Actually, Mondays have been downers lately.
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Old 02-05-2013, 02:30 AM   #60
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Watching CNBC will make you broke and stupid.
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