1. Another person who is guessing
2. No
I find it amusing that when these nasty dips occur, there is lots of emotion from some people. It cracks me up that CNBC had a gigantic production when the DJIA went above 10,000 for the first time, and when it comes back down and breaks through 10,000, it's "scary". Maria was on for about 20 minutes straight. The best part was when that dude was standing next to her and staring at the camera, and then somebody in the control room told her to politely ask him to get off camera. Man, I wish that would have been me! I would have done a reprise of the Dirty Old Man she got on the phone a few months back..."Maria, you're a living Barbie Doll!"
Bob Pisani comes on about ten minutes ago at what will probably be the high of the day and talks about the "immediate bottom". I wonder when CNBC will figure out that the stuff they announce just feeds the fire. If they wanted to buy, they should have been buying at 9:31. But the average investor has no business at all paying attention to this short-term nonsense.
I will say this: Louis Navalier was on this morning and IMHO they could not have had a better person at the time. That man is very, very smart. He's also an excellent investor. And he simply sat there and watched that move calmly and reiterated that this won't be over until February at the earliest. Joe Kernan wanted to argue about it, but Louis would have none of it. |
