You didn't know there was a bottom of CNBC.... and it is... the 4am-6am worldwide exchange spot....
and it has this very low bar... for "Who is the Dumbest person at CNBC".
As the CNBC anchor has to read the futures.
to start off with the fair value vs the value the futures are trading at... and let us point out... that its the S&P100 and NAZ100 I believe...(always hard to tell where they are pulling the data from).
but it's the difference between the numbers. Up 5 fair value and down 5 futures... as the "Wag at the open" goes is Down 10.
Up 5 Fair Value Up 5 Futures mean a Flat open. Up 15 Fair and Up 10 Futures mean down 5....
It's fairly simple .... and yet... they just can't figure it out.
"we are Solidly Positive, at up 2.5 futures and up 1.5 Fair".... Sorry buttercup.. you are up 1.. and it is positive.... But Solid?
a week ago.. Can't remember who it was... but he had NO IDEA... and yet did any of his fellow CNBC'ers correct him... nope they let him look a fool!
Monday, July 20, 2009
Race to the CNBC bottom!
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6 comments:
Heard a theory that the h/s is not broken until the right shoulder exceeds the top. Chatter about institutional buyers pushing up indices especially tech to shake out the shorts... yada yada. Sure this could develop a virtuous cycle with more organic buying coming in, but is it likely?
T.Lo noting a Trader Vic 2B test of top on STX and the upsloping swing line looking to come back down here, at least for a swing if not a reversal below the invivo sell-stop.
So, when does the reversal occur, today or tomorrow. The thesis of Aversion E coming in late July may still be intact. Don't think we are approaching Point F yet.
well.. we may not be to point DD yet...
also.. .may not be to point d yet.
Maybe not to B yet? lol.
What is your Patented Davis Sentiment Indicator (tm) telling us? Alphatrends and Upsidetrader both looking for positive weeks. "The word" is that the h/s is broken, Newsweek says the "recession is over", HAL beats, everything looks GREAT!
I may go out and price a new boat... WTF.
... uh-oh, Cashin talking about Bernanke's exit strategy. Maybe I'll wait on the boat.
Well that is a good sign if they are looking positive... for the Bears..
who put the Bear in your Cherios today... not point B.
I just love... they keep talking about "UnRolling the stimulus" Who the fuck thinks it's working!
well if we follow EWT... this is wave 5.. Wave 4 on friday.
I would look for some sideways action.
Stick with Doug Kass..total market breadth is weak....
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