Or maybe big money was waiting for any "news event" to push markets higher and create that very needed upside illusion to get back on the shorting race. The higher they short the more money they make. Bear market you know. Anek
i'm italian so i would go with santelli. bartiromo married a jewish guy so in my book she is now half italian. as for pisani,he's italian but i believe kudlow gave him some of his drugs he was addicted to back in the day.all in all,i never watch cnbc,its just not a serious show although i do think dave faber is a very smart guy .
Let us make a distinction. Losers listen to CNBC. Particularly, when they look to CNBC for trading advice. There is an old saw, that you hear constantly on CNBC, and that is traders do not want to be long going into the weekend or traders are squaring up positions for the weekend. I am certain there are a lot of lazy traders who trade on that kind of simplistic crap and think the can make some easy money shorting Friday afternoon.
I saw Art Cashion make the point that traders didn't want to go into the weekend short....squaring up their posistions today.. Now I know most of the smart guys on ET know more than Art...he has been down there for 40 years... But, hey, what does he know compared to the "smart" traders on ET..... LOL, you guys are really comical to watch.... NEWS moves the market..... Ever see a floor trader walking around with a headset listening to music??? I watched Boone Pickens say oil going back to $85/bbl....I don't trade oil but I damn sure wouldn't go long on that information... Just my opinion.... SteveD
Anek: Let's clear something up here. I think that on a daily/weekly time frame, it's a bear market. But on an active traders time frame, a day traders time frame, that 30 minute, 30 handle move on Friday afternoon may as well have been a bull market. To me it's not very important whether it was an "upside illusion", or whether some guy playing a weekly type of time frame gets a higher price to short on. To me, what I saw is a market down in what was functioning as support prior to that, it was quietly going sideways, it made a downside feint, and then reversed, and came out the top of that little intraday sideways pattern. All this simultaneous with a piece of news that was sure to set some upside action off. Now what it does Monday is a whole new ball game as far as I'm concerned. But on Friday PM the news and the tape were all pointed higher. OldTrader
I am not a pro-trader. I ahve read that some pros listen to CNBC to go against the "analysts" recomendations. Suppodsuly most of the analyst are ready to sell big when they recommend, and buy when they trash the equity ... I have not research that fact, but it sounds about a good use of CNBC ....
I took the reaction to the rumour as a "preview" of what might happen when the situation is settled. Bond issue resolved....couple more unknown's resolved and BOOM.....DOW could be up 1000 points in 5 days.... There is a mountain of cash waiting to go bullish..... The tech bubble destroyed an entire generation of "shorts"... But, then again, resolution fizzles and down we go.....LOL Be careful...... SteveD
....you really think TBoone is shorting crude? you ACTUALLY think TBoone tells you on CNBC what he's doing and truly thinking?? do you know anything about Pickens and his perma-bull attitude on oil? he has been long oil for probably his whole life...on and off. just like george soros in the early 90s mentioned he's buying pound sterling and actually wound up making over a billion dollars as he sold into his permanent comments of going long the same currency (or was it the german mark)...either way...you guys are true clowns. THIS is why 90% of the $$ is made by 10% of the participants. go and short oil based on TBoone's comments...you will be covering at 150...ridiculous.
I understand that English is not your first language son, but I did not say I was shorting oil..... Pickens went upside down in the 80's.....he did not say he was short...only that oil would probably go down to 80-85/bbl... It was not that long ago oil was single digit....I remember oil at $8/bbl.....now I don't think it will ever get back to that again... But, I have friends that actually drill and own oil companies and they are getting nervous.....just because you have an Exxon credit card does not make you an expert on oil, LOL... But good luck to you in your endeavors SteveD