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>
> Aired on CNBC no less . . . . .
> what else does anyone need to know . . . .
> where is CNBC's track record . . . .
> toilet bowl comes to mind? It's all about rating, not about
> making money . . .
> they hired Cramer didn't they?
>
Duh, of course its all about ratings, this is what TV is all
about. ratings == cash and such is the American way. And they
have a targeted audience which makes them a logical place for
financial advertising. They don't make recommendations and
couldn't care less about their track record. Besides, I don't
believe you can make money blindly following any financial media
(or mailing list 8-).
IMHO CNBC's not that bad, the level of their programming matches
their audience, which can be a source of insight in itself. And
they do make some effort to educate, like asking people if their
companies do business with companies they recommend, a practice
that CSFB dislikes enough to give total BS "maybe" answers.
FWIW, I'm out of the indices at the moment. We may see a fed
inspired monetary rally without a preceding selling climax. The
Dow broke out of a 4 month trading range in the last few days
with volume confirmation. The S&Ps and Qs are following along
more and more reluctantly respectively. But I won't even begin to
believe until the Dow pulls back, tests on low volume, then makes
a higher high. If that happens I may take a position. But there
is still plenty of resistance out there. More likely I'll use the
upswing to unload the LEAPS I've been accumulating over the last
year. I see none of the institutional distribution profitok
mentioned on any time scale. On the contrary, the last months
action seems like a shakeout to me, where the insiders rotated
through a number of sectors spreading unsubstantiated rumors and
buying at bargain prices. We'll see.
regards,
tbr
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