Cramer said to throw everything into tech today at DJIA 14000. Ok Cotton, lets see how that strategy plays out.
Great call Jimmmmmayyyyy! And the subprime mess means nothing! Oh my are you the best topticker in the business. See you in hell Jimmmayayyyy!
note the date and symbols listed... http://www.thestreet.com/funds/smarter/891820.html (can't believe tscm still has this article up!)
I dont think subprime mens that much though the market may have topped here looking for the S&P to test 1513 then if that doesnt hold to 1496 but this has little to do with the subprime apart from helping us get to these levels a bit quicker.
Fewer then 2% of all mortgages in the US are considered "sub-prime". Even if they all defaulted it would mean very little. I don't often agree with Jimmy but I share his view on this one, though for a different reason: Techs have had cash the past decade - lots of cash. They have been buying back stock. The price of the equities is going up because there are fewer shares to go around. It's not because they are "worth" substantially more.