The only time I watch CNBC is when the market blesses us with a massive down day or two. There is nothing better than to see that “Deer In The Headlights” look on the perpetually bullish crowd as they attempt to sell incredibly overpriced stocks to unsuspected public. Now that I think of it, I don’t think I have watched CNBC since the April of 2009.
That is why it comes as a surprise, with the overall stock market sitting near its all time highs, that CNBC’s viewership has collapsed.
According to ZeroHedge: The reason? According to the latest Nielsen Media Research data, in the second quarter of 2014, CNBC business day viewership for all viewers just dropped to 162,000 – a new (and depressing for Comcast) low, on par with Q2 of 1997!
Based on my historic stock market work, this is consistent with late stage secular bear markets. And despite the markets being a few clicks away from an all time high, at least the retail public is not falling for the trap this time around. So, who is buying? Corporate buybacks are the largest culprits behind today’s rally. Yet, that party might be coming to an end as well. This could knock the wind out of the market
CNBC Viewership Collapses. What Does That Mean For The Stock Market Google