iirc, hes called 3 bottoms this year alone... each time wrong. at least the first time around when cnbc had something like this with dan dorfman the guy actually was right for the most part, but now its just ridiculous.
cramer recomended buying aggressively on the earnings report day the following stocks: CROX:fell 35pts after hrs to 47 and is now 3 UARMOR: FELL 20 PTS AFTER HRS CSCO:fell 4pts after hrs to 29 and is now 21 TMA was a buy at 20 and went to 1 within 2 weeks of his recomendation...
That's the point of the original post. When Cramer has finally capitulated and yelled "sell!" it's almost always been near an intermediate bottom. He's been a great contrary indicator.
Cramer isn't stupid. In fact I think he's probably pretty smart. He's just crooked and he uses his show and fame to pump and dump. He's your standard double dealing hedge fund figure. Guys who you can't even trust to allow into your house without them trying to steal something even if it's a jar of candy. Yeah he's consistently wrong but I think he also gives out pieces of legitimate advice every once in awhile to confuse people and throw them off track. I'd just not listen to him at all or any news shows for that matter. I've met more people who have lost money listening to Cramer than any other person.
I agree. I don' think he's a stupid as many think and as his stock picks suggest. I'll bet he's making fortune fading his own recommendations. Just becasue he tells Joe Public one thing does not mean he actually doing it. You;'l lfind he's doing the opposite.
All his viewers will probably liquidate today and signal a close, short-term, "Joe-Retail getting out of the market" bottom.
I second that. I'm just waiting for my Dad to call and say, "wow, this market is terrible" for a confirmation signal.
All I heard in March was commodities and commodities and the super cycle blah blah blah, now all I hear is Banks are bankrupt the market is finished blah blah blah. Thats why these people should not trade, or even invest for that matter.