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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (21094)	3/1/2000 11:06:00 PM
From: Don Pueblo	Read Replies (2) \| Respond to of 63513

I want to preface this with the following disclaimer: I do not know Bob Pisani. I am sure he is a fine fellow. **** The date: December 12, 1999 The time: 11:30 a.m. Eastern The place: live on CNBC Now, you probably know that Mark Haines has stated on the air on more than one occasion that he takes personal umbrage at the allegation that CNBC has any influence on the market. You also know that Bob Pisani likes to 'talk to the traders' on the floor of the NYSE. Bob uses phrases like 'trust me' on a regular basis. Unfortunately, although Bob likes to talk about charts, he does not have even the most vague understanding of TA, and I have often thought that this combination of Bob's not understanding TA while guessing at charts, and the assertion by Mark that CNBC's comments do not have an influence on the market might at some point be in direct conflict with reality. On the aforementioned date, at the aforementioned time, live on CNBC, Bob was showing a chart of WMT. At the time he said (and this is a direct quote, I wrote it down and noted the time and date) "It looks like it is poised to go higher." I immediately checked the chart and could tell instantly that the stock was ready to tank. I think it was around 68 or 69 but I don't recall exactly. Bobby called the top and the stock went straight down to 44. That cracks me up.