Where Do I Send the Invoice, CNBC?

On Monday, September 20th, I pointed out that the XLF, IWM, and IYT were not validating the SPX’s breakout above 1130. Last night, I brought up the subject again. And today, Carter Worth, chief market technician of Oppenheimer Asset Management presented my observation on CNBC.

Here’s one of my quotes:

“A week ago, I pointed out that the XLF, IWM, and IYT were not validating the SPX’s breakout above 1130, and they still aren’t. “

Here’s what Carter Worth said in the video below:

“To figure out whether the market, as measured by the S&P is going to go higher, it’s good to look at some other indices and see where they are in relation to the June and August tops. Let’s look at the Russel and the Dow Jones Transportation Average.”

Note: As I’m sure you know, the IWM is the ETF that tracks the Russell 2000 index, and the IYT tracks the Dow Jones Transportation Average. So, Carter Worth and I were talking about the same thing.

Note to CNBC: That will be $100. Since I am obviously writing content for your station, it is against the law for you to not pay me. You can PayPal the cash to the address on my About page.

Note to Oppenheimer: That will be $1000. You got a lot of free publicity from CNBC after all.

This entry was posted on Tuesday, September 28th, 2010 at 9:45 pm and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.