Media Appearance: Kudlow & Company (3/29/07)


Its a TV two-fer today:

Back in the studio tonite with Larry uber-Bull Bob Pisani, from 5:10
– 5:30 pm
(I’m remote from NY).

Recall the last time I was on with Bob Pisani (he as a guest), he was astoundingly Bullish — about a week before the February 27 correction began. (I am now referring to those highs as the Bob Pisani top!)

Also in the studio are Michael Cuggino and the very bearish Gary Shilling.

Since this was scheduled, DELL was halted and news re;eased; It reopened about ~$1 lower: I assume this will be viewed as very company specific, and not spill over to the general tech market. Dell has long since lost its status as a tech bellwhether.

That said, some of the Tech Bears (Hickey, Fleckenstein, et. al.) have argued that much of the "E" in the P/E ratio is pretty ginned up. We now know they were right — at least as far as Dell is concerned.

Tonite will definitely be fun!

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What's been said:

Discussions found on the web:
  1. Jay Weinstein commented on Mar 29

    For better or worse, the S&P 500 is down all of about 2.5% from the top in February. That clearly doesn’t even qualify as a squiggle, much less a correction.

    I am more skeptical than most [except of course TBP regulars] — but the market will have to go down a lot more than this to inflict any real discomfort.

  2. S commented on Mar 29

    MOT is going to miss revenues by $1,000,000,000 for the quarter. It may be company specifiic, but I wouldn’t want to own the stock of anybody who relies on MOT as a signficant customer (such as RFMD, who warned today, and SWKS).

    The price action in the disk drive guys, STX and WDC, suggests either they’re going to miss the quarter or that people are believing the hype that NAND flash is going to usurp the disk drive business in the near future. The price action in STX and WDC the past few days virtually guarantees they’re going to miss the quarter, but I think it has more to do with over-estimating Vista related demand than anything to do with NAND flash.

    Quite a few tech company specific misses are out there. First quarter is not looking good for tech.

  3. Eclectic commented on Mar 29

    I hope that Bob will keep us informed of his sweet mom’s account performance. He was kind enough to let us know about the big gains last year. I hope he’ll give us some updates soon.

  4. jack commented on Mar 29

    Off topic, did anyone noticed heavy buying at the end of the day for a few days now? COT?

  5. MarkTX commented on Mar 29


    end of month(QUARTER)

    that is the norm in the USA.

  6. Craig commented on Mar 29

    Bob Pisani is the David Lereah of the sell side.

  7. Sponge Todd Square Pants commented on Mar 29

    Why was Pisani defending Karl Rove ? Mr. Rove embarassed himself and anyone with functional brain cells. My god, who was the African American guy behind him? How much did this guy get for selling his soul?

  8. Si commented on Mar 29

    Just a bit of quarter end tape painting going on today…..really getting sick of stuff that is deemed to be illegal just being ignored. Starting to feel that there could be something to this story of ‘somebody’ messing around in the markets. Wasn’t BB asked about this recently in which he basically just ummmmd and ahhhd his way through his answer. hmmmm…..

  9. Michael Schumacher commented on Mar 29

    You’re friendly neighbor hood conspiracy theorist here, yes he was asked about two things: Ron Paul Congressman from Texas asked if the Plunge Protection Team (denied by several here but those who think know better) intervened in the Markets on February 27th-you all must recall that day as the day most institutions all flushed the toilet in concert thus creating the huge drop that was 500pts but ended up being “only” a little more than 400.

    His answer: No…….which brings my next black helicopter, and spook-based question:

    If the PPT did’nt exist why would you answer NO? See a really smart guy would have said: “I really do not know what it is you are referring to” and left it at that. I guess he did’nt practice that one with his boys the night before.

    He also asked about the M-3 report however I missed that as I was too busy trying to concoct more theories about all this since I am uneducated and have no reason to doubt that everything the Fed/Treasurey does is above board and taken at face-value.

    WHy do I think that?..becasue there are rules silly boy…and rules have to be followed.

    Why would I have any reason to believe that they would do anything other than what they say they are doing???

    Because of some reference to outdated Fed policy that have everything to do with intent and nothing to do with reality.

    I’ll say it again…….intent vs. reality

    It is an abused system because it is allowed to be.

    and really I was’nt responding to you’re question above..that’s for a few others who take great pains to help me “see the light”


  10. Si commented on Mar 29

    MS, abused system is right. Still shaking my head over this options backdating stuff and accounting holes at major companies like Dell….Can’t produce financials…ah don’t worry about it, your only a publicly traded company. Same with Apple, love their products etc but what the hells going on there.
    I want some damn answers.

  11. John F. commented on Mar 30

    Two words: Dow 6900. Between the Pisani tops and the Ritholtz bottoms, who needs stock selection?

  12. Michael Schumacher commented on Mar 30


    I know it exists..that’s the whole point of that. I can’t project sarcasm so I had to do it in a way that a few other posters from a previous thread “got it”.


  13. angryinch commented on Mar 30

    Pisani is a shill, a geisha girl who’ll open his kimono for anyone who has something to unload on the market.

    No knock on Pisani. That’s his job. He provides a service and acts as a lubricant to smooth the process of distributing assets from the few to the many.

    A time-honored profession, really.

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