This is true: - It is 9:25 am EST. Maria says "Well folks, it looks like the market will be rocking again!" The problem is that the futures are down big time (Nasdaq futures down more 30 points). Maria had absolutely zero idea about how the market will open five minutes later! - Nasdaq futures down 20, ES futures down 4, Dow futures are up a miserable 2 points. Maria says enthusiastically, just minutes before the market opens: "The market is showing strength!" - Maria says: "Let's look at how the market is doing at midday" and the time is 3:25 EST (35minutes before the close). I understand that she has a stressful job (not more stressful though than my trading job) but she should understand that we are not interested in her private opinion. She should be conveying information - and NOT pumping stocks. Just my 2 cents.
PAY FOR PERFORMANCE! All of the sudden to be a CEO or upper management you had to have the company you WORK FOR make you a millionaire via options. This is fine as long as your owners are getting rich as well. But when the owners start to lose equity value and these cheese d*#K$ just dump their options and RETIRE for PERSONAL REASONS. Or they reprice the options to further dilute earnings. HMM??? Remember the S&L crisis, cost the taxpayers 100 billion or so. Can anyone name one person who is still in jail? When Ken Lay is leaving SAM'S CLUB with a case of Ivory under one arm and some industrial strength knee pads under the other I will know the govt cares about justice. Till then don't steal any candy bars or spit on any sidewalks. As for Maria, I have something i'd like to trade insider.
I used to be as cynical as you. I used to think there was no hope. Then I found something that turned it all around for me. That's right Bob, channelingstocks.com
Sssshhhh, keep it a secret! We don't want anyone else to know about a service so good that we pay $399 a month for it....I'm so glad Gladys M. from Skokie Illinois was nice enough to pass the word on, but now I want to keep Bob all to myself! p.s. though a short term pessimist, i'm actually a long term optimist. or rather, a full time realist who is pessimistic about the present and optimistic about the future. Though of course, as a trader, i always reserve the right to completely reverse course in four seconds flat....
I agree CNBC is a joke as far as their market commentaries and analysts. Their news is usually delayed in comparison to most traders,except on fed decisions. The only commentary that usually has value is when they talk to floor traders, particularly Art Cashin. However CNBC is IMO still a useful tool because it attracts dumb money. In 2000 as the NY Post article refers, I made probably $40K just from CNBC pump and dumps. Joe Kernen would "tease" a stock before going to commercial, I'd buy a small lot, the stock would rise during commercial from others doing exactly what I was doing, and when Joe mentioned the stock it would get a sharp rise which I'd sell into and so would the rest of the "smart" money. This strategy doesn't really work anymore,atleast not nearly to the same degree. BTW, it's interesting to note that atleast 90% of these stocks that I traded are either gone or on their way out! Tony
Ahh CNBC...who cares what they say. Surely the only people watching the show during market hours are exactly the ones most unlikely to be swayed by Maria and Co's opinions anyway. ie - us traders! They aint so bad...(only one I can't stand is the totally pointless Rick Santelli) On another note, anyone interested in hearing about more Wall St shenanigans might like to check out, "The Pied Pipers of Wall Street", by Benjamin Cole - a fun read. (unless you're one of the buy-and-hold flock, still holding the bag) Daniel
over heard someone quoting a book by one of the junior traders who was around him, and stated that they did this all the time, and used their public personna to further their ability to ...
i like cnnfn, its on mute most of the time, no agendas from these people, at least that i have noticed, cant believe some still actually watch cnbc. when gross trashed ge everyone on cnbc came to its defense, pathetic, but aol gets hit on cnnfn and no one says anything to defend it which was refreshing, just report news. plus all of those cnbc people have books out and have many agendas aside from reporting the news. bloomberg good, and any of the music channels. later
That is the best course of action, eventhough, the video's can be chessy. This morining, We had the TV off. Trading that volatility off the open,lol.... Unlike my old friends who trade stock, my new friends, Futures traders, they dont care about CNBC. The only thing live is the Squak Box from the futures floor....... Half even bid.........even..........even......bids up, Jpm buying ...even half offer, Morgan offers....... non stop all day long, then youll get the>>>>"jimmy im going on break" then a whole new voice comes on. Believe it or not, its better noise than CNBC