2:55 PM EST Jim Cramer's Stop Trading! Wait on Nymex Exactly....He was LATE....He made it sound like free money!!!! Normal folk jumped in near the open and got slammed.....Most people who watch him actually work for a living and wern't able to watch the stock they just thought to buy it when it opened and they would be rich...It looked as if it was going to the moon in the 1st 30 minutes and I'm positive people who knew they should wait watched it go to 130 then 135 and then 140 and just had to buy it now!!!!!!..Well get rich quick didn't happen and they got burned...I personally droped 1500 shares to a sucker (the market) at 144.82 right before 2:00.....You must really love Cramer to defend him like this!!!! $COSTAverageMAN
There were two crosses on the S.M.A. today but I do not think we have hit the true support price. It is not far off .... in the short term. I think that alot of majors stayed clear of this one when the open market IPO price was ratcheting by the minute. Whales don't like to swim with sharks. Akuma
This is an unrelated question for Costaverageman. Does VectorVest really work? I do have some serious doubts about, but I dont know because I have never used it. I see these commericals on television pushing it. What does this program really do? Does it make picks for you or is it some type of organizational/stock tracking program?
I love the screeners...You can set up all type of great setups....Momentum, Valuation/OverValuation, Volume screens...They have their own personal valuations using Relative Timing, Valuation, Confidence Index (Volatilty), Safety-----All into one number if you want it called VST..... I have hundreds of screens I have built over the years and I track My portfolio, Cramer, Mutual Funds 13F-HR filings, Industries, Delta function for anything..... Bottom Line I have tripled my performance since I got it years back and the more I learn the better I get at finding deals and chasing real momentum.... Yes it's completly worth it....I also use the Vector Vest Pro software and meet with other investors here in Atlanta that use the software...Almost Monthly group meeting's.....It's nice to get out of the House....I thought I was retired!!!!!....But this game is the worlds largest CASINO where you have the edge if you learn it.... $COSTAverageMAN
I went out for drinks last night w/ some traders and one guy told me that our mutual friend who trades for a prop firm in the NYC area bought 5000 shares of NMX on the first day of trading and caught 20 pts. Not a bad way to start the day
I'm not defending Cramer, I'm simply defending documented factual history. Show me where Cramer said "buy, buy, buy" or hyped to buy blindly at the open, at any point, before or after the the stock hit the market.
There were similar posts about GOOG's lockups and GOOG went up every time. I remember that the media was mostly bearish about the lockups expiring.