He called the bottom in march. He said today that market will pull back. Stocks ran up too fast. The tape action in the last couple of days shows that it doesn't know what to do. Look at the DIA chart, unless it goes above 81.85, it looks to me it needs to retrace. In the past few days, high was just around low 80's. Looks like it's forming the right shoulder. Ma-50 looks to me like a 38% retrace and it would be a good entry point Look at the weekly chart, after 6 green candles, this week candle shows a lower high and lower low. http://stockcharts.com/charts/gallery.html?dia
He was long some bank stocks long before we made that low in early March, so maybe he is even now. His opinion has as much value as anyone else, which is zero.
How doug kass has gotten any credit is beyond me. this turkey was short gs and homebuilders from 2003-2007 and got absolutely murdered. Its hardly mentioned but doug kass was loading banks in sept and was calling citi a steal of lifetime at $21. So after making 10 calls that were wrong he got one that was right and all of sudden he's a guru.
Cramer's propaganda machine......... One of 'em ever makes a call, they tout it like the Second Coming. The mistakes are swept under the rug.
All you have to do is look at the last year. There has been 3-4 major pullbacks. Can you expect anything else? I certainly can't.
Jim Cramer: Lenny Dykstra is âone of the great onesâ http://www.youtube.com/watch?v=Lo77x4VeoQE&videos=QhKT_vQ7zWk
Kass looks like a clown now. The only opinion that matters is yours because it is your money. You are playing in a financial casino.