The top 100 stock
market authors
selected for publication
market authors
selected for publication
Saturday, December 19 2009 |
04:59 EDT |
DJIA (DIA)
S&P 500 (SPY)
- Jeff Macke's bizarre attack on fellow CNBC commentator Dennis Kneale is making the rounds. If anyone has the faintest idea what he's talking about, let us know in the comments.
-
The Seeking Alpha 100
See all
Seeking Alpha 100 » -
Fastest Climbers
Authors with the largestSee all
increase in followers
in the last 7 days
Fastest Climbers » -
Top Commenters
Top commenters,See all
as ranked by their peers
Top Commenters » -
Top Instabloggers
The 100 most active
Instabloggers.-
1
David Fry
-
2
TraderMark
-
3
Don Dion
-
4
Cliff Wachtel
-
5
Joseph L. Sha...
Top Instabloggers » -
1
-
Top StockTalkers
TopSee all
StockTalkers.
Top StockTalkers »
This news story has 23 comments:
I usually like Macke (for entertainment purposes only), and I generally can't stand Kneale, but that was just flat out bizarre.
"It's either a really simple thing... but your kinda tweaked... and you get this joke, which I'm assuming 90% of you does, but you're just coming off the rails."
"I've actually dismissed this entire game as idiocy the second I started talking to car people, and that only occurred to me this morning, which is either really super enigmatic to you, or you're starting to feel the band-aid coming off."
"Again, I'm going to talk to you like a child - not if you're with me."
"I dismissed Bank of America as lunatics about eight months ago, and I seemed to understand the world then... but now, either lunatics are running the game, and I don't know where they're playing... I've tried for the last three hours to communicate with Bank of American on TV because apparently I've either gotten off the bus in crazy town, but I'm much happier just getting them trying to speak to me in five words or less."
looks like he's been "spun" on the wall-street tire-swing one too many times.
now with his feet on the ground, he may have just realized what a farce the latest rigged-rally really is.
the shock of reality has temporarily overcome normal cohesiveness
1) On Fast Money, earlier, David Faber calls in *from his car* with speculation that the drop in BAC shares was due to them completing a share offering (which turns out to be the case). Could be he's the "guys in the car" about 1/2 hour ago.
www.cnbc.com/id/158402...
2) In his column yesterday, Macke talks about extreme sleep deprivation (and doesn't make all that much sense IMHO):
"After spending most of yesterday scratching my head until it bled (again), then overshooting my goal of getting up early by meeting my goal with the wildly bad ironic twist of not sleeping at all last night, it’s safe to say that I failed my personal stress test before today even started..."
www.minyanville.com/ar...
As for the "car people" - I have no idea. He obviously thinks he's being funny. But without so other context, it's just very strange. He hasn't really seemed himself lately. When a week ago Friday his final trade was to buy WFC and then on the next Monday said he wouldn't buy himself up $4, let alone WFC - well, that was just plain annoying.
www.minyanville.com/ar...
Here’s other news I found deeply strange in a week which is on pace to be the strangest in the history of trading:
General Motors' (GM) CEO Fred Henderson was on Squawk Box to claim that his company didn’t need bankruptcy, and loved President's sped-up plan for average MPG getting to 35 miles. What he was saying was stunning in both its implausibility and delivery - and so seemingly heartfelt that I found myself grinning at his excellence in the spinning arts. This is a company with an equity value of exactly nothing. Dennis Kneale’s over/under on the countdown to zero would be exactly 2 weeks from today: June 2. GM top dogs sold 200,000 shares at a 1.50 a week ago. The company is openly trying to sell its Saturn division, which is the only real hope it has to meet the new mileage goals.
Naturally, GM is higher this week by $0.13. Why are folks buying this? My best guess is Bill Clinton nostalgia. Fred simply has to be a distant, Germanic, cousin of some sort to the former President.
wcvarones.blogspot.com...
I can't believe I understand what that nut is freaking out about....I must be crazy too...
On May 20 03:34 PM mcafeejs wrote:
> My take is Macke "knows" the market is heavily manipulated and that
> once the government starts talking to "car people" and completely
> abandons the rule of law then the trust that is necessary for "free
> markets" is gone. The markets are behaving in Orwellian up is down
> manner so of course he's gone mad like the rest of us.
He did write the following in a Minyanville article, which indicates he didn't sleep the night before his episode:
"After spending most of yesterday scratching my head until it bled (again), then overshooting my goal of getting up early by meeting my goal with the wildly bad ironic twist of not sleeping at all last night, it’s safe to say that I failed my personal stress test before today even started."
No point in speculating the cause of his sleepless night. I wish him nothing but health, happiness & success.
He did write the following in a Minyanville article, which indicates he didn't sleep the night before his episode:
"After spending most of yesterday scratching my head until it bled (again), then overshooting my goal of getting up early by meeting my goal with the wildly bad ironic twist of not sleeping at all last night, it’s safe to say that I failed my personal stress test before today even started."
No point in speculating the cause of his sleepless night. I wish him nothing but health, happiness & success.