Is Outside Technical Commentary Still Relevant?

CNBC-2014-vs-2013-350x466After Pete told me on Friday that CNBC ratings hit another multi-decade low, I checked and sure enough, the month of August 2014 saw an average of 28,000 viewers in the 25-54 demo.
While the September 4 numbers look better, viewership hovers at around 100,000 day-time viewers across all demos.
This got me thinking. We used to watch CNBC to catch a glimpse of popular pundits like John Murphy, Ralph Acampora, Louise Yamada, Byron Wein, Dennis Gartman, David Tice, etc. as a sentiment gauge, but if there is basically no audience anymore, should we even bother? Or do we keep tabs on them for a while longer since it’s likely most of the audience are financial advisors?
Over the past few weeks, many of the old names have come out of the woodwork to make more predictions. And even though I said I wouldn’t post any more Susan Berge — see The Purpose(lessness) of Forecasts and Commentary — it is worthwhile to note that even though she said she had no idea of what to make of a host of what she considered “new” factors, the NYSE ITI that her father made up WAS updated in the space of ONE month! (Nothing displayed below?)
[pdf width=”100%” height=”1100px”][/pdf]
So now we have a cliff-hanger. Does the sudden update mark capitulation of a bear? I guess we will have to stay tuned to find out.
In the meantime, if you want to scan the last few issues, here they are:

  1. August 11
  2. August 18
  3. August 25
  4. September 2
  5. September 8