CNBC’s Morning Call appearance

Here are the 3 videos from todays appearance:

Wheres the Bottom? 11:00am
Wheres_the_bottom

The Last Call  11:55am
Final_thoughts

>
Quotes:

"Getting close to a tradeable low, and an 8%, 10%, 12% bounce. Slowly legging in for the trade"
and
"
Sentiment is at an extreme negative level, and Liquidity is high, those two factors support a trading bottom."

Who said I was a perma-bear?

>
~~~

I hardly got a word in edgewise here, but the argument between Steven Liesman and Rick Santelli is very funny:   Fed to the Rescue (11:20am )

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What's been said:

Discussions found on the web:
  1. Pat Gorup commented on Jan 23

    Saw you on TV, you looked good. The only reporter on CNBC that has a lick of sense and credibility is Santelli because he gets the big picture. No pun intended.

  2. alnval commented on Jan 23

    Bummer!

    Can’t get either of the two videos to load even when I go directly to the CNBC website. Don’t know where the third video is. Can’t find it on your website.

  3. Contrarian commented on Jan 23

    Barry: How does liquidity support a bottom? Over the past 3 months, I’ve seen enough instances of low volume rally/high volume decline that I wouldn’t bet my neighbor’s money on liquidity as an indicator (and I hate that @$$hole).

  4. SAM commented on Jan 23

    hold on..i thought liquidity vaporizes as credit crunch continues..the retrace will be very feeble..i will play from the short side as usual

  5. techy2468 commented on Jan 23

    bottom??

    what if we get bad economic numbers tomorrow or next week? is that taken care by the govt?

    technical indicators are only so much helpful, i am sure technically nobody would have known 75 pt rate cut.

    and then todays 600 pt reversal of DOW.

    this can be the bottom only if economic numbers are painted rosy going forward, or we get another 50 pt rate cut next week.

  6. New Yorker commented on Jan 23

    7.5 billion shares today.
    And before Friday we had never had a 6 billion day. Astounding.

  7. matt commented on Jan 23

    Funny video Barry–Steve Liesman says you and Santelli are living in a fantasy world.

  8. Short Man commented on Jan 23

    A 50% retrace from the Dec 10 highs to the 11,900 lows (I’ll ignore the first 20 mins of yesterdays action) would get us back to the 12,800 range. Certainly possible given the volatility we have been seeing but I’d lean slightly against it and say this leg tops below 12,500 (which means we’ll close tomorrow at 13,000).

    To me today’s action echoes the initial reaction after BoA’s $2B charitable donation to CFC in August which sparked a rather temporary belief that the mortgage banking sector could be saved. Q1 will be brutal for earnings and as the action on Apple today shows, the market has a hair trigger and will punish said stocks on misses/downward guidance. Just wait until mid to late Feb when the Q1 earnings picture becomes clearer and more announcements come out.

    Being over 50% in cash now, will add an unit of DXD/QID/SRS every 150pts up from here.

  9. Bruce commented on Jan 23

    Barry – you are a god, you are so smart

  10. bassface commented on Jan 23

    Can’t see the video either…

    (I’m on a mac)

  11. John Borchers commented on Jan 23

    Ponder this. Think of how high the S&P500 would be if the financials and retail weren’t 50% off.

  12. Lars commented on Jan 23

    Well done Barry.

  13. BB commented on Jan 23

    Barry,

    found the third video (click on the highlight below 2nd video). I already have applauded you and Joe Bat. many times… but I am going to have to add Santelli to my list now. That man has got it right. Barry, you did great!! It would be nice if Dylan would of let you respond in the final seconds instead of adding his comedy routine, like usual.

  14. techy commented on Jan 23

    does anyone know the reason for the big bounce?

  15. Mike M commented on Jan 23

    “Getting close to a tradeable low, and an 8%, 10%, 12% bounce. Slowly legging in for the trade”

    You and every technical analyst feels this way. And nowadays, everybody is a technical analyst. It will be interesting to see what happens.

  16. jay commented on Jan 23

    commedy central aka CNBC says today that note INTC who had such cautious guidance for next few quarters- was bit up, but hey, look at it today its rallying– people should buy INTC and techs as the economy is better now, the fed solved the problems of the world. BARRY- y waste your time and your credibility being on CNBC? its such a joke

  17. Donny commented on Jan 23

    Barry … you’re the smartest guest they ever have on that network!

  18. Pat Gorup commented on Jan 23

    “does anyone know the reason for the big bounce?”

    Stocks were highly oversold and the shorts had to cover. Nothing else has changed.

  19. AGG commented on Jan 23

    This type of Bear market rally happened in late October 1929. They broke all the volume records then too. Don’t fall for it.

  20. v commented on Jan 23

    J. Borchers – Don’t Financials and Retail (i.e. Consumer Spending) make up like 50% of the SP500? Hmm, I guess maybe your comment was more to be funny. My apologies if I’ve missed that.

    Also, I’m a bit confused on your long term view. In an earlier post you mentioned how you traded from short to long. Are you basically riding bounce, or do you think this is a longer term rally?

    I’m simply curious. Thanks in advance.

  21. Street Creds commented on Jan 23

    Great Job Barry.

    I posted my thoughts earlier, you and Santelli were great. Liesman and Chief Clown Rathair did gang up on you in the pack mentality of that show. But I suppose its the only way you can get on financial TV.

    Thanks for a great website.

  22. techy commented on Jan 23

    i heard that bond insurers are getting backed up by new york state or something.

    and of course more rate cut in a week.

    and oil and commodity falling.

    mortgage rates are also falling

  23. VJ commented on Jan 23

    This guy has pretty much been a perma-Bull in the past:

    MICHAEL METZ, CHIEF INVESTMENT STRATEGIST, OPPENHEIMER & CO.: I think the Fed is irrelevant here. We have an over-leveraged economy, an over-leveraged consumer. And cheaper money is not going to solve our problems. We have to go through a protracted and painful de-leveraging process.

    NBR TRANSCRIPT

    .

  24. Justin commented on Jan 23

    Oh, before we know it, companies will be hiring again, and the nail guns, and hammers will be waking us up at 7am, again! Go big bull market go! LOL! I’m keeping my short in.

  25. Bob A commented on Jan 23

    Steve Liesman reminds me of Fredo:

    “Michael… you..can’t..talk..to..Mo.. Green..like..that!”

  26. v commented on Jan 23

    Great link dukeb! Thank you.

  27. kk commented on Jan 23

    Michael Metz a perma-bull?

    Are you kidding me?

    He makes Abelson look like Kudlow.

  28. VJ commented on Jan 23

    During his last appearance on the Nightly Business Report ‘Market Monitor’:

    KANGAS: With regard to yesterday’s wild stock market run up, do the words “irrational exuberance” come to mind?

    METZ: Certainly exuberant. I don’t think it is irrational. Actually a rational investor in boom times like this has really no choice but stocks.

    KANGAS: But do the recent premium buyout bids we’ve seen in the stock market suggest to you that there are still plenty of bargain priced stocks around?

    METZ: To the buyers there are. And actually these buy outs are shrinking the supply of stocks, so that in itself is bullish.

    KANGAS: That’s an interesting observation. When you were last with us in early February, with the Dow at the 12,500 level, you were very bullish and correctly so and indeed here we are just under 14,000. Are you still bullish on stocks?

    METZ: Yes.

    .

  29. Eric Davis commented on Jan 24

    ok, I don’t know anything….

    but I think if you look at every bear market this is what happens, we test the downtrend line (somwhere between 1400-1500, right now) and then we test … and probably break through to new lows. We will do this till; we all want to vomit or we start creating jobs or the Financial markets are Destroyed and anarchy and gunplay break out in the streets.

    Downtrend over…. and now……

    Strangly it’s the way capitalisum works…. god bless America.

    I could be wrong.

  30. Michael C. commented on Jan 24

    Is every government now intent on propping up their stock markets?

    >>>In Japan, lawmakers also urged financial firms to consider exempting or cutting fees on stock trades to attract retail investors and proposed other tax breaks, including on capital spending and income tax.

    The proposals, which were submitted to Chief Cabinet Secretary Nobutaka Machimura, call for the steps to be in place until the Nikkei recovers to 18,000. It was around 13,000 on Thursday.<<< So, to every retailer out there, buy stocks because commissions are low? Is it a good investment...who cares!?! And shit...why stop at 18,000?

  31. Francois commented on Jan 24

    Barry,

    You are a perma-realist.

    Surprising the number of people who can’t grasp this.

  32. Justin commented on Jan 24

    I don’t think the “roar back up” is going to be any place where most of the fast-money pundits are suggesting. This market is like playing with dynomite – boom!

  33. ken h commented on Jan 24

    If you knew the game how could you short cover? Make some quick money and whisper bail out options. Nothing has changed that we know of. Ambac stock has gone up the last 2 days? What od these investors know that we don’t? I wonder how insolvent the monolines actually are, or are they pulling an Allstate after a hurricane. Sorry we are broke, not much different than jingle mail.

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