One day they have on a bunch of experts telling us there is going to be another recession then the next day they have on some more experts stating the S&P will go to 1500 this year. CNBC is simply the worst for trading or investing...its not even good entertainment. Turn on one of the skinimax movies if you seek good entertainment.
IMO, CNBC should completely abandon any focus or attempt to analyze market fluctuations. Get rid of any guest that talks about why he/she thinks the market or any particular stock is going to go up here or down here or whatever. They should convert to a format that just talks about specific companies and there products and competition, things like that. Become more of a company specific information channel and abandon why the market did this or that becuase its all a bunch of shit. Sure, its ok to periodically say the market is up or down or whatever but they should stay away from predicting.
My favorite is the pundits on Fast Money who are always buying in up markets and selling in down markets. And they are sure to tell you this VERY LOUDLY.
Don't use it for opinions use it for the timing of major news releases but make sure the actual content is ignored by your brain. Ignore the amateurs, they are just there in case they make a lucky call, then they bank on that call for life. Remember an instrument can go up down or sideways so there's a 33% chance of getting it right, yet it makes you look like a genius. Crazy A
I agree with Crazy. I have it on all day just in case of a market event. I rather hear it and trade on it then read it first then trade on it. (Could be too late by then). Besides at least you can stay on top of the latest financial news and just filter out the tards. My favorite is there always seem to be one clown sometime throughout the year calling for some ungodly number like Dow 40k by EOY.. Too funny. At least watching Cnbc one knows their not the dumbest one in the game.
I hate repeating myself but today was a day to be selling not buying equities, I didnt make any trades myself, waiting for Friday morning after the President speaks on Thursday evening about new plans to create jobs. I think the markets will be listening to every word, who knows where the markets go but it will surely move markets greatly come Friday morning!
I don't have CNBC on...at all...usually by the time CNBC reports on it then its too late. Let me put it this way, when was the last time you traded successfully off of a market event that CNBC reported? Honestly...
The best is james altrucher predicting aapl 30,000 or something like that. He was basically saying that aapl would be bigger than brazil and a few other large countries.