CNBC clueless

For the past 2 hours in the pre-market this morning (Jan 3) all of the CNBC announcers have been talking about how the futures are "screaming up this morning" and clueless Mark Haynes says it's because rates are moving lower today. Please show these people an all sessions futures chart. The spike up came in afterhours trading (5AM) yesterday. We have, in fact, been moving LOWER since 1AM this morning. SP futures have LOST almost 5 points this morning.

 

You don't sell the steak, you sell the sizzle

 

I know, i noticed the same thing as well...they are clueless. Did you see how shocked they were today when they found out that HD ceo left the company. Too funny.

 

You know we are at a top when CNBC calls it the Teflon Dow.

 

The Morning Exchange writers are particularly annoying. For the last couple weeks in December they had Michelle acting like a cheerleader. "Will the Dow set another record today?" I understand they need to pump the Dow because the WSJ is their partner, but do traders really care? Also annoying is how she talks and smiles at the same time, without ever closing her mouth.

 

two words........Naked Business.

Actually four........Naked Business on Mute

Just turn it off.

 

CNBC is not clueless. The people that watch it are the clueless ones.

 

CNBC just gives the people what they want.

 

I know I shouldn't watch it - but I have to do market updates on the radio and the listeners want to hear the same B.S. that's on CNBC. I admit there are times when it is entertaining...although rarely. What drives me nuts is when they are dead wrong about what the market is doing - or they are really late - like saying the futures were rallying in the morning when in fact they were falling sharply from the overnight highs.

I have to remember that they are just the media and opinion tends to overcome fact most of the time. I do need to envoke the mute button more often

 

If you watch cnbc long enough it will turn you into Blue Streek. Every piece of news will have an affect on your trading. You will be waiting to react to the next analysis they give on retail sales, the jobs report, etc. It truly paralyzes you. The economic calendar is a joke.

What controls the US equity market is the potential equity market return as compared to bonds. If the potential returns are too close the equity market will drop or rise to close the gap. If it becomes too wide one or the other will drop or rise to close the gap. Everything else is pure noise.