Aside the fact that I am long since 11/1 and the fact that we broke through the 52 week high and Fridays are not a profit taking in the last two weeks - this chart should speak volumes
...so you are saying my post would have a more of a "meat" had I post a CQG chart? vanity my oh my...
Not at all. Simply that the chart isn't terribly illuminating. We're at resistance and average volume into typical seasonal strength. I think we go higher, but the chart is meaningless, IMO.
congrats for being long from 11/1 but now it's a bit late to get long, new high , volume means nothing. Wouldn't be surprised to see a nasty shakeout sometime in the next 2 months
I agree but I will cross that bridge when it presents itself, in the meantime I am expecting more to the upside. Please see WLD chart attached....
Interesting take from Cramer Cramer mentioned that hedge funds are feeling pressure and the average fund may be up about 8% to 12% this year because of good short selling strategies. Cramer thinks that all is about to change. Cramer believes hedge funds have no choice but to cover their shorts and go long, lest they see their gains for the year wiped away. The individual investor is back, said Cramer, and that investor cares about the market for the first time in six years, he said. They won't stop caring in a day or two, he said. If Cramer were at his hedge fund, he'd tell his team no more shorting for the rest of the year. "It's too late to short. It's time to buy," he said.
There have been study's of Cramer's market calls and the conclusions have been he is about as reliable as tossing a coin and calling heads or tails, that is to say, 50%. Cramer is a journalist, not a trader.
not too many journalists who are millionaires from trading and who ran a successful HF a few yrs ago sure he is alot more of a "clown" now on TV than ever ... but he is alot smarter than many of the bozo's on ET -Cramer is a journalist, not a trader-
Most people have very little understanding of how Cramer made his money at his HF. His main money making strategy was to use his financial clout and privileged non-public information to front run stocks. He also relied very heavily on the market nous of Berko and his Wife in the early days to get himself established. Berko did the analysis and his Wife did the trading. And when he was in trouble who bailed him out, his wife who he called back from retirement when his HF was on the verge of going bust. If you think someone as emotional as Cramer could ever be a successful trader you need to understand trading more throughly. You need to understand that overly emotional egotists generally don't do that well. If you look further at his career you might begin to understand he started life as a journalist and contd in this capacity throughout his career even when he was running his hedge fund he was still writing articles. His ego has always been far too large to spend too much time away from the Media. Give him his due, through his flagarant self publicity he has made a lot of money for himself. Yes, he made millions, but unless you understand why or have examined his stock picking record you'll just end up believing the hype. I won't even get into his obvious mental problems.