Icahn comments hit averages

Many companies' earnings are a "mirage," says Carl Icahn at a Reuters conference, and markets could be set for a big drop (presumably excepting the stocks he owns).

It's not the first time Icahn has expressed caution on the broader markets over the past few months, but with the averages looking a little bit extended after a big run, any excuse to sell will do.

S&P 500 (SPY -0.4%), DJIA (DIA), Nasdaq 100 (QQQ -1%).


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Comments (14)
  • Jack Holland
    , contributor
    Comments (153) | Send Message
    Icahn is short the market...he just made a billion...which by the ways bodes well for the argument that investors of his caliber ought to be regulated by the SEC to keep their damned mouths shut.
    18 Nov 2013, 03:50 PM Reply Like
  • The Sociology of Finance
    , contributor
    Comments (955) | Send Message
    I'm no fan of Icahn, but any attempt to muzzle people who express their opinions in public is unworkable at best and at worst a threat to democracy. If you want public markets, you have to put up with the Icahns of the world.
    18 Nov 2013, 03:57 PM Reply Like
  • surfrider67
    , contributor
    Comments (43) | Send Message
    Wrong, my mother has worked 20 years for a medical insureance company. She is not allowed to make any comments on line or to the press that might influnce the stock of the company in a negative way. This is common practice.


    But Icahn shoots of his mouth, her 401k dips and it's freedom of speech. And of course his comments improved his short positions or gave him a better long entry.


    We're not talking about the right to say the words out loud. We're talking about the responsibility that comes with that freedom.
    19 Nov 2013, 03:10 AM Reply Like
  • ssl23
    , contributor
    Comments (120) | Send Message
    its just profit taking before fed min. though what icahn can do with stocks like apple...tweet....i wish i could load up and move the market my way with a tweet....
    18 Nov 2013, 03:57 PM Reply Like
  • CDM Capital
    , contributor
    Comments (458) | Send Message
    One big time Mirage is SolarCity, no profits, but the business valuation is all smoke and mirrors based upon mgmt.'s ultra aggressive calculations.


    18 Nov 2013, 03:59 PM Reply Like
  • mobyss
    , contributor
    Comments (2608) | Send Message
    Looks like a key reversal in the S&P to me.
    18 Nov 2013, 04:00 PM Reply Like
  • Russ Fischer
    , contributor
    Comments (3018) | Send Message
    I think Carl is in the mid-stage of senility.
    Without makeup he looks like he has one foot in the grave and the other on a banana peel.
    18 Nov 2013, 04:24 PM Reply Like
  • PovLis
    , contributor
    Comments (243) | Send Message
    Modest investors?? What about the 47% like some of us. His words can kill.
    18 Nov 2013, 06:33 PM Reply Like
  • Dick1366
    , contributor
    Comments (30) | Send Message
    The power to move markets is frightening. It should be reigned in. Otherwise it is just manipulation. Shame on ICON for playing games with more modest investors!
    18 Nov 2013, 05:24 PM Reply Like
  • gelstretch
    , contributor
    Comments (3505) | Send Message
    If the markets are a "mirage", then Carl Ichan is the "ghost" that can scare the hell out of you.


    We now know the markets are manipulated, and have for some time…. trade accordingly.
    18 Nov 2013, 08:29 PM Reply Like
  • Qniform
    , contributor
    Comments (4517) | Send Message
    It's ridiculous to say stuff like this "causes" market moves. Correlation is not causality. If prices had gone up what would be said? Silliness.
    18 Nov 2013, 08:31 PM Reply Like
  • Cameron Swinehart
    , contributor
    Comments (301) | Send Message
    All this talk about Icahn moving the market. Just like most investors his goal is to make money. I can't fault a guy for using his position to do so, because I would do the same. At least the guy is accurate about the market being inflated. Maybe Ben Bernanke and Janet Yellen should stop giving speeches of a false hope.
    18 Nov 2013, 10:53 PM Reply Like
  • kimboslice
    , contributor
    Comments (1797) | Send Message
    Well if iCahn was thinking of Amazon, Tesla and Neftlix then he's probably correct.
    19 Nov 2013, 01:25 AM Reply Like
  • Joseph P. Porter
    , contributor
    Comments (918) | Send Message
    I think Icahn has a pretty good sense of how much is actions affect the behavior of some investors, and he's not unwilling to use that behavior to his own ends. He's gambling, of course, but he knows the odds pretty well. Maybe he's looking for some payback for the hits he's taken from Dell and Apple.
    19 Nov 2013, 01:38 AM Reply Like
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