More CNBC nonsense....

[Joanne98]

This is the second day of CNBC screwing up the market. As we all remember, CNBC totally screwed up a rally in the banks by having a TANTRUM about the Geithner speech. Well yesterday they were at it again. Some highlights...

THE MARKET DOESN'T LIKE THE STIMULUS PLAN!

The "evidence" for this was the sell off. They started this talking point right after Obama's speech. They didn't mention, of course, that the Dow was down almost 300 points in the futures. Before the market even opened. It NEVER recovered and it had NOTHING to do with Obama's speech or the stimulus plan. But that didn't matter to the pundits on CNBC. One thing about them they NEVER let the facts get in the way of some good BULL SHIT! The "market" doesn't like Obama period.

Even Norah O'Donnell on MSNBC got in on the action when immediately after Obama's speech she said.."and the market didn't like it".. Referring to the 197 point drop in the Dow. Of course, she neglected to tell the viewers that when Obama started speaking it was 253 points down. Meaning it had actually GONE UP 50 points during his speech. But no-facts Norah wasn't going to let that get in the way of her pre-planned bashing.

It seems to me, and I'm not an expert like all the people on tee vee, that there is a chronic lack of investor confidence. And all the spinning on pump and dump CNBC isn't helping. What else didn't help was the Texas Madoff news. Something NOBODY thought had contributed to the sell off. Oh NO that couldn't be it. The investor doesn't trust anybody anymore. And you can't blame them. It looks like everybody is a liar. Especially on the tee vee. Big problem.

Maybe the investor would come back if CNBC was turned into a cartoon channel. At least then the investor would know that they can't drive the markets down with their dramatic hysteria.

And I have to point something out now that I have been noticing ever since this crisis started. The best way to tell which banks or corporations are having problems is when they start running a bunch of commercials on the cable news channels. It's a very reliable technical signal. When a firm starts running commercials every five minutes. SELL! It works every time.

Which begs the question, why? What's up with that? Are the media companies shaking down the banks and auto companies? Kind of looks like it. Are the media companies desperate too? YES! They will probably be asking for bailout money in six months. They have a big problem. THEY SUCK! Very bad programing is very bad news for the MSM. But they can't seem to STOP! People want REAL information and they will go somewhere else to get it.

But the MSM won't change so if you're an investor still owning media companies you better get out why the getting good because they're CRAP!

Anyway, they are starting again today. The "market" hates the Obama mortgage plan. NOT! CNBC hates the Obama mortgage plan because they didn't get rid of "mark to market". It also provides a way to reduce the principles on homeowners who are under water. Good news for the country. Bad news for CNBC and the con artists they represent.

Expect the market to go lower today under the non stop whining of CNBC!

[Thrill]

1. I'm glad Obama isn't going to be tailoring policy to please Wall Street

[Joanne98]

2. I know. They're freaking out because he's helping the little people.

They hate that.

[shirlden]

3. I dabble in swing trading

The very last place I would ever go for market information is CNBC. Are they really taken seriously by serious traders??? Or just do their bloviating for the dittoheads.??

:shrug: