Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.

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  • I wish it were, but I don't think so. Consider these things...

  • This secures a source of financing that was not available in 2008.

  • It's easy to say the markets are calm Friday, but it's not exactly correct. The S&P 500 futures have swung in a 33-point range overnight—that is pretty volatile. We want calm, but it's just not happening.

  • Try to move beyond the catch-all phrase "short covering." It's easy to throw up your hands and say, "What changed?" And the answer, of course, is "nothing."

  • "The last hour will be key, if they hold together and either stay flattish or rally more very good sign....the longer we stay up here and rally will force the big short to reconsider," a trader told me.

  • Much of the cause of yesterday's (Wednesday's) decline was a plunge in French banks. British newspaper, the Mail on Sunday said that French bank Societe Generale was in a "perilous" state and possibly on "the brink of disaster." They cited no sources.

  • It's another morning of rumor and innuendo, with unconfirmed reports of one large Asian bank reduced its credit lines with all French banks, and another that European regulators are considering a ban on short selling.

  • Should the world return to the gold standard? I can understand it's attractive for some: Price stability is its one great virtue, since a government cannot change the money supply without changing the gold supply. But the math doesn't even come close to adding up.

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    Stocks are trading on fear, so by definition much of this action is irrational; bonds now look extremely expensive and stocks look cheap on a relative basis.

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    Trading in large ETFs suggest that selling (at least for the moment) has been exhausted. Why do I say this? Look at trading in the largest ETF of all — The SPDR ETF.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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