Decent article on T/A, but this bit is utterly laughable:
Wednesday, though, brought at least one industry expert throwing in his two cents. During his “Lightning Round,” Jim Cramer said the following about the stock: "No. That one has already happened. It's time to sell."
The repercussions today didn’t appear to be dramatic as the stock was down just under 1 percent,
Krammer is no "expert" on drugs and has never heard of many smallcap pharmas, not on his manipulation table unless brought to him by someone else. Secondly, there was no reaction to his sell signal because nobody pays attention to the clown anymore!
What is funny is that the stock market has gone up during this time that CNBC's audience has shrank.
I think there are two reasons.
First the American people are suffering financially and more and more people are getting out of the stock market and giving up on it. Outside of the top 2% income brackets most stocks are held by people in retirement. They have done more selling than buying the past few years because they simply need the money. Now it is not only the slow economy that is hurting people, but higher taxes and inflation. On any given pullback in the stock market like we saw last December and right now a new group of people are getting out of the market, because they cannot afford to risk losing anything.
Secondly, CNBC no longer has any credibility with anyone. All throughout 2007 and 2008 it claimed over and over again that the banks were solid and safe, that there was no real estate bubble, and just treated government statements from Ben Bernanke as if they were valid. So they failed to protect Americans from the 2008 crash.
Then they simply politically defended the banks and CEO crooks that ruined them. In fact they completely backed the bank bailouts - they in effect supported the very banks that advertise with them.
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