I’m always ripping on Inspectd.com for being too simplistic/dangerous/giving chart reading a bad name…here’s a perfect example why, GTE, the latest Jim-Cramer/The Rock CNBC/WWE pump…yup, it’s been a whole 2 days since the last one…hurtful to naive investors…unethical…great for speculators…wake the f%#@ up SEC!
Chart shows a clear breakout, but it’s already off its high cuz this ain’t big-time breakout-type news. Sure, shorts are scared—as they should be—Jim/Dwayne/Cramer/Johnson’s no dummie for picking a solidly uptrending stock near its highs…but c’mon, can you smell the fakeout cookin’?
UPDATE: Now TITN breaks out to a new high thanks to a CNBC ention–damn, stock promotion is a happening biz, Lebed, you must be making some good $, right? Maybe CNBC should think about getting reimbursed by these companies, just put a lil disclaimer that no naive investor would ever see…c’mon Ge, you know you wanna, get those annual profits up from $300mil to $400mil, you can do it, you can do it all night loooooooooong!
Disclaimer: I have no position in either stock, I’ve tried playing The Rock’s picks from both sides, some stay up, some reverse, no edge, not much predictability, no thanks…I just think it’s wrong how the WWE frames it, creates a lot of unnecessary bad blood, ya dig
Posted in Analogies, Celebrities, CNBC, Manipulation, Patterns To Avoid