Monday, September 15, 2008

Where are the bottom callers?

Today was a hard hitting day on Wallstreet and the market sank below the July 15, 2008 support level. It had taken two months but the so called expert bottom callers who couldn't stop yakking on on July 15 were fairly quiet today. It is a perfect example of how analysts often become so self absorbed and arrogant that they don't even care if they are wrong. They loudest of the talkers usually are following a long list of wrong calls followed by justification or manipulation to obscure their mistakes. CNBC is notorious for pumping "experts" and allowing them to continue to have forum even after they lead viewers astray and mislead the public regarding the track record of anyone who can get in front of a microphone and camera.

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