Racer they're like broken records. I realize they're paid to pump the markets, but they say the same thing over and over again. So not only are they paid by their firms to pump the market, CNBC pays them fees to be guests, to help their ratings. So yeah, next correction they should be off the air for awhile.
Thanks...It's a real headwind for my trading opportunities, the brokerage charts are not as good. Bobby do you know of another good free chart service?
All the CNBC talking heads think Germany will resolve the crisis, and the overbought, overvalued US stock markets will continue higher. I'm not in that camp. I think we can expect a real correction this summer, and Greece isn't our only problem by a long shot.
Another flash crash would not surprise me, maybe even next week.
of course they are. It's all about ratings. So who are they putting on the air, the perma bulls like Cramer, Jeremy Siegel and Tom Lee? Or will they have real guests this time, who tell the truth. What is the truth you ask? The truth is, the market's technicals were really weak BEFORE this no vote today, so we can look for an initial day of widespread selling on all the indices, followed by a full week of carnage. What CNBC should tell their listeners is that the S&P will probably retest the 1820 level within a month or two.
There's always that "spin" factor, you know, when Jeremy Siegel, Jim Cramer, and Tom Lee come on the air to tell us "we're going much higher,", and "the markets are overreacting", "buying opportunity", etc.
VXX is the much safer play, but they'll all do well tomorrow, and probably the rest of the week.
should have their head examined. The daily charts were already a technical mess before the vote, now it appears possible that the S&P will revisit 1820 again within a month or two. Understand that this is not just about Greece. If they somehow resolve the Greece situation or kick the can again within a week or so (doubtful), there's still a ton of headwinds facing the markets....and then there's earnings season in a couple of weeks. It looks like there will be great trading opportunities this month.
I was being kind. We haven't seen he futures lock limit down since 2009, or maybe 2001.
So now it appears the markets will hate this exacerbated uncertainty, and the Dow futures will probably open down somewhere north of 100 points. Although a "yes" vote would have still caused widespread concern, a "no" vote is the outcome markets feared the most.
Today the announcement was made they will be joining the S&P small cap 600 listing, and I think this news, plus the fact that the stock is very undervalued, will begin a new uptrend for this company.
Cancel, the simple answer is politics. No one in Europe wants to be blamed for contagion, or the uncertainty around Greece leaving the ECB. They've kicked the can down the road for so many years, and it's finally come to a head. As for Lew, the US is for the US, and everyone else comes in a distant second. I think the US needs to stay out of this Europe mess, because they have their own mess at home. Short answer, it may not be too serious right now, but it can be in the near term.
Well at least most of us here. Greece is an excuse, but it appears it's a catalyst for a correction. There's a lot of technical damage on the charts now, so even a Greece resolution at some point won't matter too much.