I had the idea tonight that I could probably find some videos from CNBC where people where giving trading advice that just didn’t make a whole lot of sense to me. Even I was surprised at the amount of options I quickly came across.
This was one of my favorites.
We have two guys who are looking through a few different charts of long-term bonds. All of the charts show huge declines over the past year. Then, they zoom out to show that most of these charts are actually at five year lows.
Obviously, these bonds that have been tanking for the past 60 months are priced at a great value. The gentlemen actually make the point of drawing red lines on the chart to show how the charts have repeatedly hit those lows.
I guess it’s possible that some people may be able to make a living picking bottoms. I’m not one of them. It just doesn’t make any sense to me. The price action on all of those charts is terrible. This is another classic example of CNBC Bottom Picking.