All Me, All the Time: Briefing.com

I have a few longer posts and analyses in the queue, but for today, its gonna be way too much me.

The latest is via Briefing.com:

Blog On

The blogosphere has become a more & more useful tool for many, & as Barry Ritholtz pointed out this morning, he has a new indicator…

"What is it? You.  As a group, it seems that traffic to blogsites can be tracked as a contrary indicators — especially when the market is under pressure. Note that the selloff in August, and then the more recent whackage in January, each created a major traffic spike — which led to a bottom, and a healthy bounce… Now, maybe the content here suddenly got much better. It could be that I suddenly became a whole lot more insightful, or perhaps my prose more poetic — but I doubt it. ..What most likely occurred was the market turmoil generated an influx of new visitors." 

Bond Squad doesn’t name check CNBC too often, but something’s need to be noted: Perma-bull, perma-guest Dennis Kneale told a group that bloggers are too negative, essentially saying nobody make money by being negative.

OK.  Tell that to the money managers, who have been, especially put holders who got their direction as well as a solid run-up in volatility levels.

Back in July, Barry noted "Last night on Kudlow, I was [excoriated] by Forbes editor Dennis Kneale for being too Bearish on the U.S. economy," that was about 10% ago on the DJIA (intra day) near 17% a week & change ago (S&P off 11.5% & 19.5% in same time frames).

-Beth Malloy

Man, a 10% bounce — off of a 20% selloff — and suddenly, the natives are getting cocky again. 

Dennis, don’t make me roll out the DK Top indicator again (I’ll do ti! I will !)

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What's been said:

Discussions found on the web:
  1. michael schumacher commented on Feb 4

    CNBC gets the new tag line

    All wrong all the time

    Ciao
    MS

  2. SINGER commented on Feb 4

    The Indicator using the Blog Traffic – definitely worked…Of course you are going to be more on point than Dennis Kneale…

    GIANTS BABY….

  3. Jonathan Garber commented on Feb 4

    Isn’t Dennis Kneale the technology editor for CNBC? Why is he all of the sudden giving his opinion on on current market conditions he knows nothing about?

  4. Stuart commented on Feb 4

    Can I suggest duct tape instead in the case of Dennis Kneale…

  5. Cory Venable commented on Feb 4

    I wish the press and pundits (long always)would stop abusing the term “contrary indicator”, as it seems any headline that seems overtly bearish is reason to cheer for the arrival of the market bottom.

    In my ignorance, I assumed that to be contrarian in market terms is to go counter the widely held opinions of the fully invested at either end of the business cycle, while holding the same view as the masses during the trend itself? Isn’t it? C.

  6. Ross commented on Feb 4

    Kudlow is somewhat erudite and sophisticated. He know on which side his bread is buttered.

    Kneale, on the other hand was seen at a Superbowl party bent over with his ear on top of a wine bottle. Seems someone told him it was a humourous little bordeaux.

  7. GerryL commented on Feb 4

    Dennis Kneale is also perma-annoying.

    On down days he loves to say that if you didnt sell then you didnt lose money. He should have advised Enron’s employees not to sell. That way they wouldnt have lost their life savings.

  8. Andy Tabbo commented on Feb 4

    Dennis Kneale is the most annoying person they have. Why does he get so much airplay? He adds nothing to any debate. He’s a little whiny piss ant. He told people to go out there and buy google stock because it’s going to $1,000. He’s been telling people to buy all the way down. Where’s the accountability at CNBC. He’s terrible.

  9. Jerry commented on Feb 4

    On the flip-side…I have also noticed that bloggers tend to post more during these types of market conditions. Perhaps some of the increased traffic may be a result of this increase.

  10. Francois commented on Feb 4

    “Where’s the accountability at CNBC.”

    Asking CNBC to hold itself accountable is akin to ask President Bush to stop invoking executive privilege.

    Good luck with that!

  11. saltwater commented on Feb 4

    Bloomberg reported that insider buying exceeds selling for the first time since 95. Historically market up avg 21% following 12 months. I’m so confused

  12. Street Creds commented on Feb 4

    Sorts similar to the increase of church-goers after 9-11.

  13. Koba commented on Feb 4

    How dare you post something positive, saltwater! Get on board the doomsday train. ;-)

  14. Dumpster commented on Feb 4

    In short Dennis “I ain’t shavin'” Kneale is the biggest douche bag on the planet. The guy is just absolutely awful, looks like a slob, has zero analytical ability, etc, etc, etc….

    At least if he wore a high school cheerleading outfit on the the air it would make his nonsendical commentary somewhat more bearable…

    I fkn’ hate that guy….

    Anyone out there have the phone number or email address of the Grim Reaper? Maybe we can swap him out for Natalie Holloway?

  15. sher commented on Feb 4

    Hey, Barry
    How do I cancel my subscription to the market newsletter? Every e-mail I send to you gets bounced back, regardless of the address and your phone line is continally busy. Thanks,

  16. John commented on Feb 4

    Kneale like Kudlow is more about politics than economics. It’s house policy at Forbes to say all is wonderful except when the democrats are in power when all is not wonderful. These boosters and hacks have zero cred as economic commentators so why does anyone take any notice of them. It’s a pity they can’t be sued for nonsense they spout and some poor suckers are taken in by.

  17. Koba commented on Feb 4

    Jesus Christ…So much for the “we don’t do ad hominem” at Barry’s Big Picture.

    Dumpster, why don’t you take the next step, get yourself a machine gun and annihilate Dennis Kneale’s whole family? After all, he deserves it, right?

    I enjoy the valuable content Barry posts and links to, but the constant triumphalist “Kudlow can eat the shit out of my asshole!” and wishing people dead is strictly for nutcases. How ’bout a little less arrogance and trash talk and a little more class and dignity?

  18. red95king commented on Feb 4

    I used to frequent a bear message board during the 00-03 downturn. I used such an indicator based on how many registered users were on-line. It was uncanny at calling bear rallies.

    Some times I (covertly) wish for another bear market because the vicious rallies can be so profitable.

  19. David commented on Feb 4

    Dennis Kneale, Kudlow and Crammer; they get the verbal criticism they deserved. It’s always cautionary when people get caught in the crossfire of mighty opponents.
    “Why, man, they did make love to this employment.” Hamlet Shakespeare

  20. dhukka commented on Feb 4

    Dennis Kneal is consistently out of his depth on just about every issue with respect to the economy and the stockmarket.

    This is evident in his complete lack of knowledge on the aforementioned topics and the grade school platitudes he parrots in just about every interview.

    Back in early January he did a segment on CNBC with Paul Kedrogsky and Steve Leisman in which he argued that investors have become a bunch of ‘second guessers’and that investors should not second guess corporate CEO decisions. He cited former Merrill Lynch CEO Stan O’Neal as supporting his claims. How the irony of claiming that citing a CEO, that presided over one of the worst blunders in recent corporate history to bolster his argument escapes him, is beyond me.

    The guy consistently makes a fool of himself. How much money would have lost on Kneales tech recommendations?

  21. ZackAttack commented on Feb 4

    In all seriousness, I’m wondering if skeptics (like myself) are low-level wired differently in such a way that it is impossible for us to view pollyannishness in others as anything other than a character defect?

  22. Street Creds commented on Feb 4

    Yeah, they all are pathetic. But thats part of the NBC mantra. NBC is pathetic too. Why GE doesn’t cut them all loose is a mystery.

  23. Todd commented on Feb 4

    OMG…there are actually people out there who despise Dennis Kneale more than I do.

    I’m getting very bullish on the manufacturers of barf bags (too bad they’re probably all Chinese) due to the almost ubiquitious presence of Kneale on cnbc now. Is there any hour he isn’t on?

  24. Mike G commented on Feb 5

    The whole ethos of these shows is mindless-sports-fan magical thinking applied to the stock market, all emotional manipulation for people who can’t or don’t want to think.

    Being anything less than maximum bullish at all times makes you an unamerican traitor islamunonazi.

  25. john jansen commented on Feb 5

    I once worked for a large investment bank as a bond salesman.A senior executive there tols an assembled throng of salesman once that it is best to be bullish. Customers have money to spend and they are not going to ask someone who is constantly negative to make offerings. How is that for an approach to the business?

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