Discussion in 'Chit Chat' started by Port1385, Mar 24, 2009.
Can we get this thread deleted?
I second that.
And any future threads as useless as this.
Bear Market Rally you mean
03/24/09 - 08:30 PM EDT
"The markets have changed," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday. "The big-money managers and hedge funds are now desperate to get back in."
Cramer said it's not surprising that there was profit taking today after yesterday's monster move. But behind the scenes, he said, the markets are rapidly shifting gears as the big money mutual funds and hedge funds are struggling to get long.
For over a year now, Cramer said it was a badge of honor for mutual funds to have the maximum amount of cash on hand, signaling that they were prudent and patient. But after the market's sudden turnaround, that game of waiting is over, and mutual funds and hedge funds alike are buying everything they can.
Cramer said Treasury Secretary Geithner, once toxic to the markets, is now instilling confidence, giving fund managers the confidence they need to start buying again. Between now and month's end, he expects the financials to rally hard as money moves off the sidelines into this hardest hit sector.
Cramer said he'd be a buyer of stocks like Wells Fargo (WFC ) JPMorgan Chase (JPM ), Morgan Stanley (MS ) and Goldman Sachs (GS ), all stocks which he owns for his charitable trust, Action Alerts PLUS, along with Bank Of America (BAC ) and even Citigroup (C ) on any weakness between now and March 31.
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