Anyone noticing CNBC straining these days to put lipstick on their darling bull turned pig? There is such an overwhelming deluge of bad news it is becoming impossible to paint an optimistic picture that credibly characterizes the current investment climate. Very telling, I believe.In my humble opinion the network had better soon figure out the status quo sustaining their programming for the past twenty years is as dead as Elvis, because when it comes time for the "save the mother ship" fire sale, they might find themselves competing with Hummer for a low-ball bid. Yes, you heard it here first. The times they are a changing.
Now, don't get me wrong. I certainly recognize this is precisely the sort of climate one typically finds at bottom. However, those who claim we have reached a generational low in the market should by no means be getting any airtime if, in fact, we have. This I am rather sure of.
So the status quo at CNBC lives on. Add this, then, to the bearish bucket I have been filling of late...
I is gettin' real concerned, boss, hours is all the time tha's left before top. I might agree with those who are impressed by how the market has been holding up this week, but the manner in which momentum is fading is a growing concern. This shepherd of long ETFs thinks it might be time to get the flock out of here...
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