cramer calls market bottom+ new bull...market tanks

I am with you. We are not quite there. Thoughts for Monday.

 

I'd remove Paris Hilton and replace with Sylvia Brown, the 'psychic'

 

I have heard him say he considers using most technicals some type of voodoo, though he has indicated his respect for a few technicians. He is a pure fundamentalist. Maybe that's why he keeps missing on his bottom call. Of course, a lot of technicians have missed the call, too.

The only pundit I've not heard call a bottom on CNBC is Art Cashin. I listen to him and Santelli.

 

He's a moron but he may be right about the July lows. IBD has called it as well and they have an excellent track record. (75% or so at calling bottoms)


I'm pretty sure IBD called it before Cramer did.

As far as his show, like it or not if he mentions a stock and you trade news plays, he makes news. One professional trader told me that often play the opposite direction but that they do listen to him.

On his show tonight he said, "I tried to save the American Financial System." Arrogance doesn't begin to describe it.

 

MARKET IN RALLY MODE

Yeah that's the INVESTORS BUSINESS DAILY outlook changed this week from market in correction. Some of you dumb heads do not realize that the downtrend will end someday and a new bull market will emerge.

Enough of this doom and gloom.

 

They call it a Follow Through Day and it marks a time when position traders can start looking to go long on institutional quality stocks that are emerging or breaking out from proper bases.

IBD warns that not all FTDs pan out but there has never been a bull run without one. It's also not based on anything subjective either which I really like. They have a free video on just what it is and how to spot it in their Media Section on their site at investors.com.

And just so don't hijack the thread, Cramer is still a moron.

So while there's no guarantee, it's certainly a wake up call for position traders.

 

ah good ole day is back! What are your posistions these days? What hedge fund do you trade for?

 

"You talkin' to me!"

I'm day trading at the moment. In cash at the close of business every day. For now. I don't work for a hedge fund.

 

cnbs europe is the same format...plenty of idiot market prognosticators except they have funny accents.Not as pompous,delusional or outlandish though.

 

Absolutely NO analyst, technician or fundamentalist can predict the exact bottom.

Even if we are not at the exact bottom we are close to it.

That's why I loaded up my DDMs, to hold them for 2-3 months.