Avoid Media (its brainwashing us)

This I marked that how media spreads fear among the participants of stock market. I am noting here two incidents which happened over weekend of 19th march to 22nd march, but over two different continents. INDIA & USA.
Incident #1.
After closing markets, RBI declared minor increase in REPO RATES, now i am no banker to estimate the effect of this on banks but all the business channels & news sites went ga-ga over this that move will adversely affect the market and may trigger fall. Each and every analyst went on saying that this negative news.
Till Friday 19th march we were in strong but matured uptrend (which started from 11th feb 2010) in nifty – so it was but obiviouis for everybody to say that this move of RBI will trigger change of trend.
Bloomberg (on TV & website) even went on saying that US STOCKS DROP AS INDIA INCRESED RATES....
(i think this is the biggest blunder done by any business media)

http://www.livemint.com/2010/03/21212947/The-impact-of-policy-rate-hike.html

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKsbvRrAaYTE

But to everybody’s surprise on Monday 22nd march 2010, market opened huge gap down,
Than it gave + ORB, than it never came back to that low levels,
And rallied to cover all the losses.
The point is never listen to business channels their views may not necessarily may true.

Incident #2

This one happened in US, from 23rd to 26th march,
While media was clearly negative over health care bill which was supposed to pass on Sunday 25th march 2010, all analyst and Jim Cramer of mad money was confidently saying that if this bill pass than short all stocks on Monday and bla-bla-bla....

http://celebrifi.com/gossip/Mad-Money-Recap-Cramer-Apologizes-for-Missing-the-Rally-Post-Healthcare-CAT-1956427.html

http://www.businessandmedia.org/articles/2010/20100319055725.aspx

That bill got passed on Sunday, and every media was advising to be short, like cnbc.com etc,
DOW rallied.
This again fulfilled my belief that this business channels knows nothing about markets.
They can only tell what’s happening, just like news channels, which reports what happened in past. & can`t foretell - so why listen to them?