A Bear Turns Bullish on CNBC - Mike Swanson (11/12/2014)
This clip above was the biggest scoop of CNBC yesterday.
This Wall Street strategist who had been negative on the market a few weeks ago is now "leaning to the bull side."
He is still wanting to wait though before recommending buying, which drew the frustration of the CNBC "anchor" talking to him.
But it was a scoop for CNBC. A lot of hard work went into this investigate piece of "reporting."
The headline they put on the segment says it all "Worry Free Market"
We'll see what people are thinking after Thanksgiving - lol.
If you want to play the rally now as the man at the end suggested you should then my advice is to FORGET about using fundamentals and valuations and simply by FB or YELP and hope it goes up for you. Or find a biotech stock with zero earnings and a lot of hype and hope.
Then hope you can get out before it tops out.
Figure out a way to be a pure MOMO player.
Do not convince yourself that you are an investor if you buy stocks in this market now with no idea what price you are paying for earnings.
What you are is a gambler.
That's ok though if you recognize that and have a real gambling strategy.
But those that convince themselves that they are investing by buying into this stock market now are fools.
And so are those holding thinking that the stock market is going to go up forever or rocket into a repeat of the 1999 bubble.
In fact people who wish for a repeat of 1999 essentially are hoping that the country will be ruined again in another bubble bust. It's a sick thing to wish for, but many of the bulls are indeed hoping for that. They simply do not care about anything but seeing the stock market go up forever for them - no matter what the cost to the rest of society and even their children or grandchildren.
They are the most dangerous herd to ever form in the market, because they failed to learn anything from the last two busts and SIMPLY DO NOT CARE about the future.
BTW - if you are a Wall Street money manager or "strategist" reading this and you want to get on CNBC my advice is to get one of your people to contact Stephanie Landsman.
She is the producer of "Fast Money" and a story like that is EXACTLY the type of thing they are looking for.
Here is her twitter page - do your digging from there:
Five minutes on CNBC could make your career, because once you are on there you can show it to potential clients and they will think you are a genius since you were on the television - and most stock bulls completely worship CNBC.
All you gotta do is say you were bearish and now bullish....
If you have trouble with Landsman you can also try Maneet Ahuja who is the producer for the Squawk Box morning show.
She is well liked on Wall Street and at the Fed and is considered to be one of the greatest superstars of American television "journalism" today.
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