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Market recap: Why do people listen to David Tepper? Because he's often right. His appearance on...

Market recap: Why do people listen to David Tepper? Because he's often right. His appearance on CNBC this morning to share his bullish views set the table for today's rally, led by big banks including BofA and AmEx. However, techs lagged after Apple sold off on no apparent news. Nymex crude ended below $95 as the IEA detailed a "supply shock"; gold fell to a three-week low at $1,424.50.
Comments (12)
  • SivBum
    , contributor
    Comments (1579) | Send Message
     
    apple sold off 2.4% because a taiwanese supplier reported cut in iPhone orders.
    14 May 2013, 04:21 PM Reply Like
  • alec2003
    , contributor
    Comments (48) | Send Message
     
    Many apple fans who opened a brokerage account so that they can buy their 15 shares at 697 would argue that it went down for no reason
    14 May 2013, 09:34 PM Reply Like
  • mobyss
    , contributor
    Comments (1840) | Send Message
     
    So Tepper's the new "inside man" and Hilsenrath is out?

     

    OK.
    14 May 2013, 04:23 PM Reply Like
  • ppk721
    , contributor
    Comments (43) | Send Message
     
    Well lets see ,I am long stocks so I tell everyone who kisses my @#s that the place to be is in stocks & they will go much higher---So now I make even more $$$$$--Stupid public and stupid funds looking for % gains to get new customers -push an overbought market to levels not seen before-------Nobody ever gets in trouble for that kind of a FRONT RUN---A RIGGED GAME
    14 May 2013, 04:44 PM Reply Like
  • jerrycalpha
    , contributor
    Comments (59) | Send Message
     
    This has the feel of an options exp. related push often reversed before the week's over.
    14 May 2013, 04:44 PM Reply Like
  • Ted Bear
    , contributor
    Comments (575) | Send Message
     
    Tepper laid it out...net of $800 billion per year is looking for a home.

     

    What he didn't say in the fine print is that his math means the already insurmountable deficit increases by $200 billion each period. And he didn't say what happens when the $85 billion/month infusion winds down......

     

    That is the key question, I can keep a leaky ballon up for a LONG time as long as i keep adding helium. It is inevtiable, unless i fix the leak (which Congress has not even remotely considered the idea) that the balloon wil deflate once i stop adding helium.

     

    Ditto BB, the punch bowl, and the market.
    14 May 2013, 05:09 PM Reply Like
  • wapiti
    , contributor
    Comments (698) | Send Message
     
    Amazing that everybody, especially the CNBC crew hangs on his every word. I was just reading about John Paulson and his abysmal performance since he was anointed "Master of the Universe". Lemmings following CNBC and their MOMO cheerleaders will be hit in the crosshairs. I don't know when but it will be painful. Remebering back to 1999 when maria B. asked Buffett "why would you want town JNJ"? when you could be buying internet stocks which rose everyday. Waiting on the sidelines now
    14 May 2013, 05:09 PM Reply Like
  • Mercury Value
    , contributor
    Comments (565) | Send Message
     
    cool we have a new stopped clock
    14 May 2013, 06:48 PM Reply Like
  • 7of9
    , contributor
    Comments (299) | Send Message
     
    For a guy who has billions in long market position in the large hedge fund he owns, what else should we expect him to say. He is ready to unload his holdings at higher prices to CNBC audience.

     

    Notice how he kept mentioning 1999 stock market bubble as if higher multiples are inevitable. He is a trader and he can change his opinion and dump his holdings before we had time to wake up and log into our brokerage accounts.
    14 May 2013, 08:08 PM Reply Like
  • Interesting Times
    , contributor
    Comments (10172) | Send Message
     
    Always love the "new kid on the block" who doesn't make any mistakes. Whose next weeks guru gonna be??
    14 May 2013, 08:14 PM Reply Like
  • John N
    , contributor
    Comments (33) | Send Message
     
    Tepper's been at this a long time. Would hardly call him new. See Carnegie Mellon b-school
    14 May 2013, 10:07 PM Reply Like
  • Interesting Times
    , contributor
    Comments (10172) | Send Message
     
    I have been around a long time as well. Most predictors get it wrong at some point. No matter what the education level is. Manipulation sees to that !!

     

    If you are not plugged in you will get it wrong..
    14 May 2013, 10:18 PM Reply Like
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