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