Monday, June 22, 2009

CNBC says "Expected profit taking" at close of trading

Other BLOG comment

CNBC final seconds (On Monday). they said it was expected profit taking...

Submitted by (anon) (1243 comments) on Mon, 06/22/2009 - 16:03 #33850

and that once the fomc comments were out and we head into end of month, the markets would re-stablize.

um...why didn’t they tell me that on friday? who are they kidding?

Steveo Comment

I find that watching price and volume action and some derivitives based on those are adequate to trade from. I also like to know when big economic report or FOMC fed Speak may occur just so I dont get blindsided with a 4% move while intraday bets are placed.

I avoid Cramer, Fox, CNBC like the plague. Even if you are watching them strictly for amusement, their lies can seep into your subconscious and it can mess you up. You worry about a 15% bull rally on the golden cross, when really a strong short position should be in place or at least readied.

The media are tools of the government and HBB. I believe that until major changes in conflict of interest are made and prosecuted, there is no need to turn the TV on. The bad outweighs the possible good.


  1. You are so right. The talking heads say anything that pops in their head and hope we will forget it the next day. They get ungodly amounts of money for saying ungodly things.

  2. Indeed, and watch out for early morning rallying cries for end of quarter "window dressing"'s really not that important. It doesnt move billions. Just MHO.


Insightful and Useful Comment!