cramer calls market bottom+ new tanks

Discussion in 'Trading' started by dsq, Jul 31, 2008.

  1. dsq


    cramer said yesterday its official the market bottom is in ,load up,etc the usual bs and.....the market tanks.How this idiot does this especially before an unemployment number announcement shows his wrecklessness.
    He is no better at calling markets than a drunk driving a car.Actually he s a damn good contrarian indicator.
  2. It's one day man. The key to whether he's right is if the market doesn't roll over and pierce the lows. But in my opinion it's not over quite yet. I think we get a week more of chopping sideways to higher, then roll over to the lows.
  3. I'm not sure the bottom is in yet either. My Dad hasn't called and sai, "geez, this market sure looks terrible". That'll be the time to go all in.
    I know it sounds like I'm making a joke, but it's true . He is the ultimate fade. I may have made a mistake recently and told him about it.
  4. I think that we might just find support at a fib retracement a bit lower from today's close and then make yet another 50 point run for a "measured-move" up above 1300, with possible targets of 1309 / 1316 before rolling-over again.

    It will be interesting to see how the market "reacts" to tomorrow's unemployment news.
    Remember, it's not the actual numbers that are important - - - but how the market reacts to them.
  5. Sit around and watch how the market reacts. By that time you will have missed the move. Good luck with your fib retracements.
  6. Well, this is the 4th time he has called the bottom, so eventually he will be right, and remind everyone of it for years.

    After he is proved wrong this time around, he will simply call another low down the road. This is how he does business.

  7. exactly.

    Its actually extremely annoying that he has a platform (cnbc) to spew his bullshit on the clueless masses.

    Luis Rukeyser was respectable, cramer is a clown.
  8. the bottom will be in when everyone gives up and stop trying to pick bottoms and become bearish

  9. Somehow Cramer being on CNBS seems just plain wrong. FUX would suit him much better. Targeted marketing.
  10. netedge


    Cramer is not a stupid guy. But I don't necessarily consider him a skilled technician either. When he says we've put in a bottom perhaps the worst he can be criticized for is for being vague.

    Is it an intermediate bottom or THE bottom?? I happen to feel that we have put in an intermediate bottom - one I would expect to hold for the next couple of months. But with more downside to come down the road after some weeks of consolidation.

    However, he doesn't define what he means by a "bottom" so we are left to interpret. If he means intermediate bottom then I happen to agree with him. If he means THE bottom signaling a return to uptrend then I think he's likely mistaken.
    #10     Jul 31, 2008