Everyone missed this one. On Friday at 3pm, Cramer came out on CNBC and stated that the indexes would go whooosh straight up into the close. Indeed, when he said that the DJIA went from 75 to 50 as if the Cramer speech was effecting the price. For a while I thought he was right, until price tanked down 150 points. There was so much sudden downward pressure that there were still afterhours trades that made it go lower. Cramer had shouted WHHOOOOSSHH!!! and made an exagerated sign with his hand in the air. I looked on his site, thestreet.com under "Stop Trading" to see if there was any mention. Nope, no mention at all.
So what? If you look to Cramer to tell you how to trade you're an idiot. That's so self-evident I can't believe the play Cramer bashing gets around here. Who cares what he says? Who cares what anybody says?
I still dont understand why people still talk about Cramer or CNBC. The channel is a JOKE people, I know about 25 traders that trade full time and none of them ever watch anything on that channel. If you want real news, get a Bloomberg terminal or a live news source. CNBC serves zero purpose to real traders.
SPAM ALERT,,, THERE'S A GOOD CHANCE THAT THIS GUY IS CRAMER HIMSELF. SOMEONE CHECK FOR THE BALD SPOT.
Heh. Not Cramer, just someone who doesn't understand this board's obsession with him -- or with CNBC for that matter.
Cramer and Paris Hilton are geniuses because they have leveraged stupidity into an annual income that exceeds what most Americans earn in their entire life.
Actually, it was worse. On both his Mad Money Show Friday Night & Monday morning with Erin, he stated he knew it was going to go down when he was watching the tape after his close green call.
It actually makes me feel good to listen to someone talking about companies I had been involved in years ago. If it were not for people like cramer, who would take the other side of my trades? We all need suckers to sell low and buy high. This paradigm serves much liquidity for the markets. Bad for the ones who follow him, but good for me. I also find his 'support group' last week incredibly funny, I was laughing my ass off all the way into the weekend. Did you hear him say he made 450mm and lost 300mm and he has that knowledge and experience to give to the viewers. It is too much. I agree though. why all the animosity towards this doofus? He is just an entertainer being paid off by cnbc to hype up markets and keep US investors hopeful. That incredible track record must be the reason why he is doing a tv show and newsletters. gotta make money somehow right? I used to be a broker and their mentality is buy buy buy. too funny. I still have many friends that are and I rip on them all of the time. "what are you guys building a position in, I ll sell it to you" or "what is really good out there, I need somehting to trade". They tell me the stock they are buying and then I short it at my price, and then call them to tell them I am short and compliment them on the great pick. they get so pissed, and tell me I am being negative, and that I shouldnt think that way. "I should buy when everyone is buying, and sell when everyone is selling. I know the opposite is true for my case. I was wrong on crox though. not that I would dare take the other side of that one. its a doozy :eek:
That is why on his Monday show he hedged his bets by telling people what to do if we had a bear market, but then said that he doesn't believe that will happen. However, if it did happen, and you didn't do what Cramer told you to do on the show, you must be a moron! Hate him.