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May 17, 2005

Cramer-Kudlow all show, no go, Tues., May 17, 2005, 6:37 PM

During this evening's shows on CNBC, first Larry Kudlow, and then Jim Cramer, told their audiences that Retailers led the rally. In fact, it was the lead story on both shows.

The problem is it was a fabrication, and here is the proof.


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Home Depot (NYSE: HD) had been strong after the open based on financial reporting, but the Dow was a loser. Until U.S. Treasury Secretary John Snow made his remarks after 2:00 pm ET today, the Dow was under water. Then the Dow rocketed up 100 points in two hours to close up +79 points.

Meantime, HD continued to sag. In fact, the volume in HD near the close made me believe it could open lower in the morning. Is the SEC watching this stuff?


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Now, look at the corresponding Dow chart today, and ask yourself who's telling the truth here.


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The Retailers today did not lead the rally. In fact, the Retailers (GICS sector 25) held it back.

Tonight both Kudlow and Cramer tried to re-write history. That's what people do when they control the media, and that is precisely why independent (and ethical) blogging will win out every time against traditional media.

You can only fool the public for so long, and then the jig is up.

Posted by Posted by Bill Cara on May 17, 2005 06:37:18 PM | Category: 25 Cons Discretionary , Blogging World , Cara Today in the Market , U.S. Dow 30