CNBC

I don't usually pay any attention to the mediots--but happened to have CNBC on this AM and was struck by something... Right as the ES was in a position to break out--someone walked up to the CNBC reporters on the floor during a live shot and insisted they report the 'Bear Stearns is in trouble' story. You could see and hear the guy bending the reporters ear right there on live TV. Next thing you know, the rally is spiked and we get some panic selling on fears created by the 'breaking story'. Who was that guy--and who sent him out to plant that story, one wonders.

Plant the story? I wasn't watching. Did you really think this story should NOT have been reported? IT

hey: according to CNBC we are UP djia 150 points right this second. (off the low, lolrotf)

Plant the story? I wasn't watching. Did you really think this story should NOT have been reported?

IT

There is nothing terribly surprising about the market selling off at resistance (ES 1332) but what I found interesting was the way CNBC was clearly used to 'help things along' and to make sure that an important line was not crossed. Yeah, BSC's trouble is certainly news--but that was kinda flagrant, I thought.

Glad you made a few bucks on the maneuver. It is definitely fun to be on the same side as the goons when they pull this sort of thing.

Still waiting for this consolidation range to be resolved one way or the other--and for now, based upon what I saw this morning on CNBC, it apears that somebody with influence likes it below 1332, for now.