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Media Appearance: Kudlow & Company (5/24/07)

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Its the regular appearance on Kudlow tonite: We will be discussing unlikely potential Fed Cuts (a Bullish mantra for some time now); today's Market Reversal, Home Builders and Inflation, from 5:00 til about 5:30 or so.

Its a pretty stellar line up:  In addition to your humble narrator, the guests include David Malpass, Gary Shilling and Jim Awad.

What can we discuss?

• The Technical Reversal on pretty big Volume -- Dow up 70 to down 90 (as of this writing);

NYSE 3.1 Billion shares
Nasdaq 2.3 Billion shares
Qs did 200 million -- the most since Feb 28th (300m)

• Prices plummet, New Home Sales Surge (but double digit monthly gains are usuaally reversed);

• Overstated Job Market Strength;

• Tech Weakness and the ongoing rotation into Defensive names (Utilities, Consumer Staples, Insurance, Pharma, Telco);

• Cult of personality: Why does anyone still pay attention to former Fed Chair Greenspan?  His influence of Fed policy is now zero; he was a particularly awful forecastor. So why do people STILL hang on his every word?

UPDATE March 24, 2007 10:31pm

I meet Jim Awad in the green room (nice guy), but I am unable to strike up a conversation -- because Kenry Kissinger is in the room.

While Henry the K is on air, I hang around shmoozing with his entouarage, chatting about music. Turns out Henry is okay with photos, so one of his bodyguards uses my phone camera to grab a snap.

Turns out that, yes, you can get around the secret service muscle -- if you were just on the CNBC . . . 

Thursday, May 24, 2007 | 03:45 PM | Permalink | Comments (24) | TrackBack (0)
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Comments

"Why does anyone still pay attention to former Fed Chair Greenspan? His influence of Fed policy is now zero; he was a particularly awful forecastor. So why do people STILL hang on his every word?"

Because, it seems like half the people think he was awful and half think he was wondeful. Please recall, back in May of 2000 when he Raised by 1/2 point in light of a market bubble and a post Y2K dead economy. He was no visonary IMHO. Always late in either direction.

In my household we called him Alan Greenspic'n'span because he wiped our economy clean.....

Posted by: Larry Nusbaum | May 24, 2007 3:54:45 PM