As I've said before, CNBC is on my television as I sit at the computer and trade. It is not so much what is said as the tone of the program as things get said. It provides me a general indication of the sentiment of the market and the tone of the participants is an indicator of the stress they may be under from their own positions in the market.
Another thing I've noticed over the years. When the market has been trending up eventually Maria Bartiromo, who does the "Closing Bell" hour, giggles. That is often the top of the move. It is uncanny.
Here is a copy of the email I sent to CNBC when she giggled last Friday:
That’s it! At 1536 on Friday Maria giggled. This IS the top!