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Pastimes : CNBC -- critique.
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To: Thomas M. who wrote (2384)3/17/1999 12:19:00 PM
From: Toby Zidle  Read Replies (1) of 17683
 
Tom, I saw only part of that interview. We'll have opposing viewpoints, I'm sure, in that I tend to like Cramer and think of Granville as only a so-so interpreter of technical indicators.

I thought Cramer did a half-way decent job of counterbalancing Granville's 'mumblejumble'. Of course, I didn't see it all, so maybe I misinterpret here. So many times the 'gurus' get on and spout the "Gospel" truth without anyone else knowing enough to make a challenge to that truth. Cramer served that function today.

We ought to give Granville credit where credit is due. He developed the 'On Balance Volume' concept, which many tech analysts rely heavily upon. Nonetheless, Granville becomes so entrenched in his longer-term outlooks that he is absurdly late in recognizing reality (whether he is in print with his predictions or not). I believe he missed the first two years of the current bull market before he abandoned his then bearish position. Wasn't that much too late? Wasn't he an advocate of gold investments for that time?

Today Granville is negative again. He says two-thirds of the stocks are in bear markets. Doesn't sound right to me, but maybe he is right. So what then? Invest in those one-third of the stocks that are advancing. Isn't that what investing is about?

Yesterday Ralph Acompora made a very astute statement on CNBC. He was commenting on the fact that the large-cap Dow stocks are leading the market, in stark contrast to the problems many stocks are having. His advice? Very simple...so absolutely simple. Put your money in the large-cap Dows. That's what's working.

I much prefer Acompora's insights to Granville's usually offbase visions of doom.
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