I have a few longer posts and analyses in the queue, but for today, its gonna be way too much me.
The latest is via Briefing.com:
The blogosphere has become a more & more useful tool for many, & as Barry Ritholtz pointed out this morning, he has a new indicator…
"What is it? You. As a group, it seems that traffic to blogsites can be tracked as a contrary indicators — especially when the market is under pressure. Note that the selloff in August, and then the more recent whackage in January, each created a major traffic spike — which led to a bottom, and a healthy bounce… Now, maybe the content here suddenly got much better. It could be that I suddenly became a whole lot more insightful, or perhaps my prose more poetic — but I doubt it. ..What most likely occurred was the market turmoil generated an influx of new visitors."
Bond Squad doesn’t name check CNBC too often, but something’s need to be noted: Perma-bull, perma-guest Dennis Kneale told a group that bloggers are too negative, essentially saying nobody make money by being negative.
OK. Tell that to the money managers, who have been, especially put holders who got their direction as well as a solid run-up in volatility levels.
Back in July, Barry noted "Last night on Kudlow, I was [excoriated] by Forbes editor Dennis Kneale for being too Bearish on the U.S. economy," that was about 10% ago on the DJIA (intra day) near 17% a week & change ago (S&P off 11.5% & 19.5% in same time frames).
Man, a 10% bounce — off of a 20% selloff — and suddenly, the natives are getting cocky again.
Dennis, don’t make me roll out the DK Top indicator again (I’ll do ti! I will !)