Bill-

Bob Pisani actually did a constructive interview today! Jeff Marin of LiquiNet (sp?), a market maker for the institutional money. Highlights. Institutions are sitting on a lot of cash. There is no EOM buying. Some position lightening and topping off, that's all. They are waiting for the Fed to speak. They are flat on the year and are wondering how they are going to make moneynext quarter. They are not aggressively moving into commodities. The decline so far may just be part of a 20% move down. Buying here is still buying retail. BUT, you can't "game" (time) the markets. (I have to disagree with that last one.)

I believe the show is called 'Fast Money'

If you scroll out to a longer time frame, you'll see the 571 bounce off an upward trend line that started on the 6/15 and also hit a low again on 6/20. I think this is the trend g034 and Donna spoke about in the past couple of days which yesterday broke out of the downward trend from the 730 high. Not to overdo the charting but there almost seems to be a pattern of approximately 2days up & 1day down pattern that has persisted since 6/15. This is just a novice's interpretation, but I'm sure real1 will chime in later with better analysis.

Yeah...the show is called "Fast Money" and I just happened to catch it Wednesday. I think it's only on Wednesdays right now, but hopefully it brings in lots of viewers and CNBC makes it more reagular. I thought it was way way way better then JJC.

Best,

LB

Here's the link to CNBC's info on Dylan Ratigan and the name of his new show - "On the Money":

http://moneycentral.msn.com/content/CNBCTV/TV_Info/Anchors&Reporters/P73260.asp

Toby

P.S. Recently, on Ritholtz's blog (The Big Picture), he had a section entitled "Question for the Commentariat" where he solicited comments about how to deal with people who make insulting (to the host) comments on his blog. There were a ton of responses, but the drift was that "it's your blog, and you make the rules". Besides both being intelligent commenters on the market, this issue of dealing with pesky comments is another thing Bill and Barry have in common.

Bill-

FYI:

"A controversial Securities and Exchange Commission rule tightening oversight of hedgefund
advisors is “arbitrary� and can't stand, the U.S. Court of Appeals for the D.C. Circuit ruled.
The rule, which took effect in February, requires most hedge-fund advisors to register with
the SEC and undergo routine inspections. Former SEC Chairman William Donaldson pushed for
stricter oversight of hedge funds, which are lightly regulated investment pools intended for
wealthy investors, and the SEC adopted the rule in a 3-2 vote over objections from Republican
commissioners Cynthia Glassman and Paul Atkins.
In a long-awaited decision, a three-judge panel of the appellate court unanimously rejected
the SEC's approach, vacated the rule and sent it back to the agency for reconsideration.
SEC Chairman Christopher Cox issued a statement within hours of the ruling saying he has
instructed the SEC staff to promptly evaluate the court's decision, and provide the Commission
“a set of alternatives for our consideration.� Cox added that the SEC will continue to work with
other financial regulators to evaluate systemic market risks and retail investment issues raised by hedge funds."

To oratier
Yeah yeah more bureaucracy and red tape. When are they going to stop big investment banks from insider trading and all the unethical things they do(including trading against clients, and ripping off people. Think Merrill Lynch etc recommending gold in the 650s+ and it tops soon, Prudential picking the bottom of gold with their downgrade, Goldman Sachs and their Refco IPO that went bust in a few months)? Oh no, they won't. They're great friends, have guys in the Treasury, and own stock in the Fed.

Dylan Ratigan's new show: "Fast Money", Wed. 8pm. only.

From Wikipedia:
"On June 8, 2006 it was announced that CNBC would re-air On the Money in primetime (11pm ET). CNBC will also implement a "checkerboard" programming schedule for its 8pm ET timeslot. Mondays will be CNBC Prime: A repackaging of the best of the day's taped segments; Tuesday has CNBC Documentaries; Wednesday will feature Fast Money: A fast-paced hour with Wall Street's top traders; Town Hall a live audience program exploring single money oriented topics will air on Thrusdays; On Friday Heads Up Poker will air."

http://en.wikipedia.org/wiki/CNBC