A better question might be: Is it a normal market occurrence and should I be alarmed? My answers are YES and NO. I answer this way because a ten or fifteen percent correction, after the run we have had, would be perfectly normal and probably very scary, – but not the end of the world….
Session 19—CNBC = Shameless
If they gave out awards for trend following, CNBC would be a top contender. To wit, as the market (primarily the Dow Jones Industrials) began its run of new all-time highs at the end of March, CNBC began running the following promo, using clips of its various on–air persona; Sue Herera—“History in the making for…
Session 18-“Fed Bolt From Hell” part II—That was then. Then may be now.
While scanning the pages of Barrons.com, I spotted an article I thought might be perfect fodder for kortsessions.com. In this case the media portrayal of the market might be too bullish. As it turned out this was to be a wonderful perspective on the current market through another set of eyes. Here is the headline from…
Session 17—“Risk On, Risk Off”….Dumb Stuff
If there is anything that I see or hear from the media that absolutely pushes my buttons, it is the expression “Risk on, Risk off.” The saying derives from the 1984 movie, “The Karate Kid.” In the movie a young New Jersey kid (played by Ralph Macchio) with an attitude and accent moves to the…
Session16—Cyprus—A Media Measured Response…Caveat Santelli!!
I have really been having a tough time finding material of kortsessions lately. Egregious hyperbole and fear mongering have been hard to find, considering the Euro/ Cyprus events of last weekend. The media has been rather muted, as Cyprus, population one million, smack dab in the middle of the Mediterranean, did not get the talking…
Session 15–“FBFH—Fed Bolt From Hell”—The Next Big Thing!
Actually “FBFH—Fed Bolt From Hell” may be the next big market-moving obsession, sniffed out and fleshed out by CNBC’s Jim Cramer (FBFH is an acronym Mr. Cramer coined). This appears to be an undercurrent that the Street types tend to be buzzing about and may, according to Cramer, be the source of the market’s next…
Session 14—“Buy, Sell or Fold?”
Or maybe a better question might be (ripping off the bard) “To be, or not to be (in)?” No doubt you will get a plethora of views from the media as we move forward. In kortsession 7 I made it pretty clear that I favor being a long-term investor on common stocks. Having said this…
Session 13—“One-Shot Wonders (Roubini)”, Why Do They Continue to Get More Guest Shots?
I’m not sure on this one, maybe it is because they were credited with making one spectacular call and the media still believes that their views are important and a draw. Now I’m all about free speech, but some free speech may cost you money and opportunities. Let me give an example. NYU professor, Nouriel…
Session 12—Dow 14,296.26…A New ALL Time High…Does anybody care?
By golly, the folks at CNBC sure do. Even the folks at end-of-the-world-as-we-know-it Fox News are celebrating (Fox has been completely negative, mostly on a political bent, since the March 2008 lows). In the case of CNBC that is all that they have been chattering about the past two days. We have repelled from the…
Session 11–OMG!! Obama is Re-elected. Sell Everything!
The above statement may seem a bit extreme; but, believe it or not, seemingly intelligent people reacted exactly that way during the six trading days following the November election. The S & P 500 was down 5% (it has rebounded 12% as of March 1). These people were obviously surprised by the outcome. But most…