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*Now, let me get one thing quite clear, the guest - Ms Beth Lilly, seems nice enough, but lets have a look at how those three stocks responded - within seconds, of her appearance.
All charts 1min, covering the past 2 trading days).
Surmodics (SRDX)
Sunopta (STKL)
Bio Script (BIOS)
Summary
First, here is the video...
Special note...you can even see the stock price reaction on the CNBC live charts. Perhaps most interesting though, the hosts and guest (perhaps embarrassingly) both utterly refrain from acknowledging the fact the stocks they were discussing went into hyper ramp mode.
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Maybe others are more used to it, but for me, seeing those stocks snap higher today on a mere guest appearing on a TV show, it just makes me sigh. To think of all the little guys (and girls) whom the SEC have chased across the years, whether its for stock newsletters, or even web postings.
Yet, here we are, with an absolute clear case of a person appearing on a live TV show, where the specific stocks they are there to highlight (or should that be pump?) snap violently higher.
Now, I'm not saying Ms. Lilly - or anyone associated with her, were buying either of those three stocks ahead of her few minutes on TV, but I'd sure be 'curious' to see their trading account records for the past few days.
Here is a thought. How can I get the lunch time guest-list for CNBC, along with details of what stocks they are going to..what are they calling it again...oh yes.. its called 'highlighting'. Gods forbid I suggest they are 'pumping' their freshly structured portfolios.
Looking ahead
Thursday has the usual jobs data. There is also another reading on Q2 GDP, market is expecting a slight revision upward to 2.7%. At 10am, there are pending homes data.
*next sig' QE-pomo, is the very large $5bn on Friday
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As for the main market, there isn't much to add to what I've already noted in earlier posts this evening. Broader trend remains to the upside, and baring a few daily closes in the sp'1670s, I'm pretty confident of a move into the sp'1750/75 zone this October.
Goodnight from London