Jimmy Cramer was on a rant tonight, saying the big brokerage houses are using their proprietary trading information to move in and out of the market. In particular , there was a huge German insurer supposedly selling large yesterday AM. When they were through, and the brokers know exactly when the last share is sold, then they step in to pick up the 'bargains'. Nothing new about this, but its a nice reminder as to how the big money is really made, the old fashioned way. Inside dope.
Did he happen to mention how many times in the past he has been on the receiving end of that kind of info?
He's strictly for entertainment. I love to laugh at Cramer and his little hyperactivity problem. I don't believe anyone takes him seriously. The missus happened to turn on CNBC one time and she told me "my buddy was on". Cramer proceeded to talk about DGX. The missus, who by the way, has absolutely no interest in the stock market, said "Hey, that's the place that did my blood work ... $100 a share and this guy wants me to buy it?? He is nuts!". We would get a kick out of DGX's descent all the way into the 40's and talk about what an idiot Cramer is.
I channel surf a lot. I caught that CNBC/Cramer spot with him crying out something along the lines of "It's not a bull market yet!" (because of the rally)... But back in December, I think it was, on his radio program that happened to come on late at night while driving in my car, he declared the 5 signs that told him that we were about to enter the bull. So this guy's just about a lot of bull.
CNBC = Contains nothing but crap. I swear that guy looks more and more each day like a nuthouse escapee.