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Media Appearance: Kudlow & Company (8/28/07)

Tonite, its the regular show with Larry back from vacation. My pal Herb Greenberg of Marketwatch is on, as is Keith Wirtz of Fifth Third Bancorp.

Special appearance tonite: Dennis TOP TICK Kneale.

You may recall that the last time Dennis and I were on together, he pounded his chest about how right his uber-bullish calls were -- on July 17, 2007. Two days later, the market topped and rolled over. Yes, thats correct, Dennis Kneal's hubris-filled chest pounding PRECISELY nailed the market's recent top.

As I noted the very next day:

"It is inevitable that when a scribbler who does not manage money for a living begins to pound his chest about calls he made -- economic calls that have so far proven to be incorrect -- we are seeing a warning sign. When the crowing has been emboldened by  a 1,400 point market run, all it means is that we were overdue for some sort of correction."

-The Dennis Kneale Correction Top !
http://bigpicture.typepad.com/comments/2007/07/the-dennis-knea.html

Don't take my word on it -- here is a chart:

The moral of the story: NEVER MAKE THE TRADING GODS ANGRY !

Tuesday, August 28, 2007 | 04:15 PM | Permalink | Comments (46) | TrackBack (0)
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Comments

You should have Kudlow post that chart tonight.

Kudlow, Kneal, Luskin, Pisani etc etc etc...all the arrogance of these guys and their refusal to listen to or god forbid even understand the other side of the argument was bound to come back and bite them.

They consider rational people permabears...it is a shame they are so blinded by massive dollar devaluation and credit expansion run wild.

You should do as they do to you and laugh at any suggestion they have of being "bullish" in this market.

Posted by: Sammy20 | Aug 28, 2007 4:24:53 PM