Tuesday, August 18, 2009

The bald guy is making fun of me

The bald guy on CNBC is making fun of me (and all bears) in his opening sequence today ( i sneaked a peek cuz for some reason people give him credence). He said yesterday (the selloff) was a joke and today shows you how things really are. I love that he is saying that I absolutely love it - I mean look at the tremendous wealth he has created over at the TSCM. http://www.marketwatch.com/investing/stock/TSCM/charts?countryCode=US&submitted=true&intflavor=advanced&origurl=%2Ftools%2Fquotes%2Fintchart.asp&time=12&freq=1&comp=Enter%20Symbol(s)%3A&compidx=aaaaa~0&compind=aaaaa~0&uf=7168&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=2&size=1&optstyle=1013

Anyways when RIMM gets back to 85 he'll break even on his rah rah pick from a few months ago.
He says there is no reason to be bearish - I beg to differ - but hey thats what makes a horse race.
Remember he is in the ratings game - he is there to get people to watch and to sell advertising time - people dont want to be told things are bad - contrary to what people think that they want the truth, people just want to be made to feel that everything will be ok . it is very American to assume that any and all setbacks are temporary and meerly aberations - but we face a future unlike we have ever faced before and after a 52% rally from the lows it is much riskier to put money to work on the long side. So let him squak - but think about it Mr. Mainstreet are things actually gettting better - are your friends getting new jobs, raises, thinking about buying major new items?

Ill get off the soapbox now

JB

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