is cramer right this time or is this yet another one of his so far never failing contrary indicators? when the permabulls panic can a bounce be far off? A Time to Sell By Jim Cramer RealMoney.com Columnist 10/5/2008 8:55 PM EDT If you haven't sold some stuff and are worried that you haven't, you should not let the down futures market stop you from selling something. I have spent the whole weekend working on what can go right in this market and if we get it (a rate cut), the response should be to sell a lot. If we don't get it, you have to sell some anyway and be as defensive as you can be.
STOP LISTENING to cramer. He has been wrong the entire time. He was hyping oil and NG 4 months ago at the top. Check out some of his calls on some of the videos on here. I remember when the markets were surging he said to buy the googles and the tech stocks. Didnt he put a 750 or 1000 price tag on google??? I also remember him saying that the homebuilders had found a bottom and that it was time to buy, he was wrong. Watch his show, in the backround he has a countdown on when housing prices will bottom which I believe is sometime in July, he will be wrong on that as well. He is always on the wrong side. Why he didn't call this fall 18 months ago confused me. Some of my 1st posts on here back in 2006 talked about rising foreclosures, liquidity issues in the market, ARMS resetting and credit card delinquencies.
Cramer recommended Thornburg mortgage last year because it did not lend subprime. Now that got down below $1. That was probably his work recommendation. He can be right or wrong.
I am taking everything out of my accounts that have close to a 36% loss from top and putting my money into cd ladders.
No worries, im long 4 stocks i bought friday evening and they should be soaring on the open which is when i will sell. Whether it's the bottom or not whenever everyone has an entire weekend to think all over the smart money gets in.
Neo call your longs if your already in , if you dont mind, asia futures look pretty crappy,, and now ours.