I have been none to kind to the pom pom network, aka CNBC. All too often I have taken to task the "pretty faces"on the cheer leading network for their shameful pimping of stocks, their management, along with other assorted financial officials and politicians.
Well today I write about Dylan Rattigan, who I have oft referred to as 'the pontificator' due to his long winded dissertations. That said, I happened to catch his rant on air this morning about 11am in which he went off on the mistrust in the markets, the lack of transparency among the financials, the lack of details of the minutes of these meetings amongst Paulson & Pals where our tax dollars are being thrown around with abandon that would make a drunken sailor blush. Well done Dylan!!
I believe Mr. Rattigan has had the proverbial light go on. I think he finally gets it. It is a shame that it took 6000 odd Dow pts for it to happen but none the less I must give credit where credit is due. Give em' heck Dylan.
Next up, I would encourage Mr. Rattigan to question Mr. Paulson as to why we should believe a word that comes out of his mouth as he was an orchestrator in chief of this debacle while CEO of Goldman earning over $500 million while leaving this in his wake.
Please don't be afraid of him Dylan. Your spine is showing now and it looks great but you cannot stop here. Let it all out, you have the pulpit to do it. I know you read the blogs out there. You don't have to admit it but I know you do. You have to, all the hacks you have interviewed have been so wrong that logic would dictate the opposite might be correct.
I would bet dollars to doughnuts you read Mike Panzner over at Financial Armageddon, and Mish, and Karl over at Market Ticker, and Charles over at Of Two Minds, and Mike Morgan among many others. Why not have cats like this on and discuss markets with them.
Why not ditch the regular crew on Fast Money for a night, heck give em' a couple of nights off, and invite on cats like these and have an open discussion of why we are here, where we are going and what can be done. I would love to come on but I have a face made for radio as opposed to television.
So yes 3 cheers for you Dylan Rattigan, your rant made me proud, made me feel like you get it. Start pressing the buttons of the culprits, they are among you, you see them every day. John Mack, Stan O'Neal, Dick Fuld, Franklin Raines, Jimmy Cayne, Hank Paulson, Chris Cox, Chris Dodd, Angelo Mozilo, Bill Willumstad. Please don't let me down.
Yesterday I was stopped out of my GLD position at 82.45 for a very small loss on 1 unit.
I was also stopped out of my AU position at $17.90 for a flat trade on 1 unit.
I was also stopped out of my GFI position at $7.50 for a loss of just over 1 pt on 1 unit.
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Japanese Yen ticker FXY at $97.15 stop at 96.72
Long 1 unit of Ultrashort 20yr TBond ticker TBT @ $60.10 stop at $60.19
Long 1 unit of Chicago Bridge/Iron ticker CBI @ $11.55 stop at $11.79
Short 1 units Salesforce.com ticker CRM @ $56.05 stop at $42.12