EARLY wakeup call to get to the airport this morning.Yesterday I toggled back and forth between CNBC and FBN. It is probably difficult to make a really different product but there are differences. True to the buildup FBN is trying to do some teaching in their coverage. To the extent that people can actually learn it will be a good thing.
One clever thing they are doing is spreading out the familiar faces across the whole day, whether it is good or bad television (I don't know what I think yet) is does not feel foreign.
While this is not a shot it is reasonable to wonder if a new channel will be looked back on as a top.
The scary dollar bear rhetoric seems to be kicking up a notch on sites like the FT and a couple of other places. That the dollar is oversold right now makes sense. I still expect a weaker dollar over the longer term but for now a much weaker dollar is not in anyone's interest so wholesale dumping of the greenback seems unlikely.
The conference went well, minimal stammering and such.
The circumstance of an early flight today meant I only had time for the two panels I sat on. I met Richard Kang and Tom Lydon (we were on the BRIC panel together) both great guys and I would liked to have spent more time but we had to get up at 4:30 this morning to get to the airport, where I am now.
Unfortunately I don't have much to share. All of the things about sector and foreign that I might offer has been touched on before on this site. Beyond that I'm not sure anything else was truly new either. I think I would have had more to offer if I could have stayed around a little longer.
I believe I mentioned that I have DSL modem at our place already so I should be on the Interweb tomorrow--fingers crossed.
It looks as though the market is hitting some bumps--the Citi news yesterday was not helpful. Although I have been wrong about the market's direction of late a retracement of some measure after a great two months seems plausible.
I'm not going to trade to out nimble a little backslide but expecting it will come should make it a little easier to digest.
5 comments:
You might have stumbled across a new indicator there. I was hoping CNNfn had closed at the precise bottom in 2003, but alas I see it strugged on into late 2004 so we can't say its demise was the bottom.
Watching CNBC or Fox Business is not a great way to get investing ideas or advice.
It is a lazy way to invest. Anyone buying on Cramer's advice needs his head examined.
I agree with anon 9:49.
Don't ever confuse all the network noise with anything useful for prudent investors. CNBC and FOX are entertainment and advertising media.
I like that there will be some comeptition now for CNBC, like some of you guys I've grown tired of Cramer's rants and a few of the other commentators.
I agree with you Roger on the possiblity of some sideways consolidation in the market up here, or even a little pullback, considering the solid rally since the August lows.
It might be a good time for some puts on weak companies, for those of you who trade them. They might fall faster if the market pulls back some. THC, ALU, LZB, CPWM looking very sick here:
http://finance.yahoo.com/charts#chart4:symbol=thc;range=6m;indicator=volume;charttype=candlestick;crosshair=on;logscale=on;source=undefined/
IBM, YHOO and INTC will bring smiles to investor's faces tomorrow. Some comic relief to some weary investors. YHOO's results surprise me the mos. R. Suttmeier has written extensively on the issues that banks are now wrangling with.
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