Cramer and Financials

timetotrade · Jan 11, 2008

On the Jan 10, 2008 Mad Money show, Cramer said that the BAC and CFC news, Bernanke etc... was the same type of thing that happened in 1990 when the financials bottomed. He said several times that the financials have bottomed.

So let's see what happens. Will he be right or wrong? On 1/10/08, the ETF closed at 27.41. Let's see where we are in a week, in a month etc... and see how Cramer does.

S2007S · Jan 11, 2008

I believe the XLF saw its highest record volume ever.

Im looking to get into either XLF or UYG for the long term (2-3 years). I think the financials once they find a bottom will be ready to run at least 100-200%.

Looking to get in XLF somewhere under $22.00

10-Jan-08 26.68 28.02 26.43 27.41 223,653,300 27.41

nazzdack · Jan 11, 2008

1990 was different. There seems to be too much optimsm that today might be the "final bottom" for financials. There can't be a bottom until everybody has given up, including Cramer.

thecalip · Jan 11, 2008

Quote from timetotrade:

On the Jan 10, 2008 Mad Money show, Cramer said that the BAC and CFC news, Bernanke etc... was the same type of thing that happened in 1990 when the financials bottomed. He said several times that the financials have bottomed.

So let's see what happens. Will he be right or wrong? On 1/10/08, the ETF closed at 27.41. Let's see where we are in a week, in a month etc... and see how Cramer does.

Cramer has been VERY VERY bullish on financial since the beginning of 2007. He was on a bet with a trader on the Fast Money, who happens to picked the metal sector.

The XLF went from 38 (in early 2007) to current 26, lost little over 30%. That mean, the investor/trader will need a 50% rebound just to break even.

Sure a great call.

Mad money is one of the great show to watch. A lot of entertaining value. Real value? There is none.

Warrior4g · Jan 11, 2008

cramer's show does nothing but blame the fed for his bad calls. he said to buy wells fargo 2 months ago. that was a dumb ass call ! he created a cartoon like charactor and i think he will look back in years to come with much embarrassment.

Cutten · Jan 11, 2008

The BAC news is not comparable to typical corporate purchases of distressed assets in a bear market, because they bought much higher up and were basically trying to save their ass. What you want to see is people like Buffett, vulture funds, corporates from Europe/Asia (not government-controlled sovereign poverty funds), private equity buyers starting to launch takeovers of distressed financials. We have not seen that yet.

However, financials have been fairly strong today. A lot of the worst hit stocks like BSC, MBI etc have rallied powerfully in the last two days. We have also seen respected value investors starting to take stakes in the financials (these guys are *always* early though). This leads me to believe that they are getting closer to a bottom.

The main reason I think we are not there yet, is the lack of fear. We have not yet had a true capitulation. Once we have back to back major down days, with the VIX spiking above 30, and huge volume, then you can start bottom-fishing in the financial stocks.

TravelTrader · Jan 11, 2008

First off, Cramer is a lying fool. Many unknowing investors have probably lost a lot of money listening to him.

But did he say near term bottom or long term bottom? For the near term, could be.

Cdntrader · Jan 11, 2008

Quote from timetotrade:

On the Jan 10, 2008 Mad Money show, Cramer said that the BAC and CFC news, Bernanke etc... was the same type of thing that happened in 1990 when the financials bottomed. He said several times that the financials have bottomed.

So let's see what happens. Will he be right or wrong? On 1/10/08, the ETF closed at 27.41. Let's see where we are in a week, in a month etc... and see how Cramer does.

I suspect this call might be his worst call since 1998 oct when he said market was about to tank.

oh wait I forgot about the tech bubble b2b call.

Well maybe its his 3rd worst call.

sprstpd · Jan 11, 2008

Quote from thecalip:

Mad money is one of the great show to watch. A lot of entertaining value. Real value? There is none.

Not to mention that he is a turdball prick. Anyone catch his response to that e-mail from Raj last night? What a complete asshole.

GSH1976 · Jan 11, 2008

Financials were his top sector pick for 2007. He really nailed that one.

Jan. 10, 2008 - C was featured in the featured stocks and rated Bullish at 28.11.
Jan. 8, 2008 - C was featured in the lightning round and rated Bearish at 27.14.
Jan. 2, 2008 - C was featured in the lightning round and rated Bullish at 28.92.
Dec. 7, 2007 - C was featured in the lightning round and rated Bullish at 34.31.
Nov. 30, 2007 - C was featured in the featured stocks and rated Buy at 33.30.
Sep. 27, 2007 - C was featured in the lightning round and rated Bearish at 46.28.
Sep. 14, 2007 - C was featured in the featured stocks and rated Bullish at 46.04.
Sep. 10, 2007 - C was featured in the lightning round and rated Bullish at 44.72.
Jul. 25, 2007 - C was featured in the lightning round and rated Bullish at 48.02.
Jul. 13, 2007 - C was featured in the featured stocks and rated Buy at 51.25.
Jun. 4, 2007 - C was featured in the featured stocks and rated Buy at 52.84.
May. 22, 2007 - C was featured in the featured stocks and rated Bullish at 53.74.
Apr. 13, 2007 - C was featured in the lightning round and rated Bullish at 49.85.
Mar. 21, 2007 - C was featured in the lightning round and rated Bullish at 50.26.
Feb. 28, 2007 - C was featured in the featured stocks and rated Buy at 48.66.
Feb. 15, 2007 - C was featured in the lightning round and rated Bearish at 52.37.
Jan. 10, 2007 - C was featured in the lightning round and rated Bearish at 51.78.
Dec. 8, 2006 - C was featured in the lightning round and rated Bearish at 49.60.
Oct. 6, 2006 - C was featured in the lightning round and rated Bullish at 48.36.
Jul. 7, 2006 - C was featured in the lightning round and rated Bullish at 46.02.
Jun. 13, 2006 - C was featured in the lightning round and rated Bullish at 45.21.
Jun. 1, 2006 - C was featured in the lightning round and rated Bullish at 46.72.
May. 31, 2006 - C was featured in the lightning round and rated Bullish at 46.23.
May. 30, 2006 - C was featured in the lightning round and rated Bullish at 45.97.
May. 23, 2006 - C was featured in the featured stocks and rated Buy at 45.51.
May. 10, 2006 - C was featured in the lightning round and rated Bullish at 47.17.

Aug. 17, 2007 - BSC was featured in the featured stocks and rated Bullish at 117.90.
Aug. 16, 2007 - BSC was featured in the mad mail and rated Bearish at 116.14.
Jul. 26, 2007 - BSC was featured in the sell block and rated Sell at 123.93.
Jul. 6, 2007 - BSC was featured in the lightning round and rated Bullish at 144.10.
Jun. 8, 2007 - BSC was featured in the featured stocks and rated Buy at 147.10.
Apr. 18, 2007 - BSC was featured in the featured stocks and rated Buy at 156.26.
Mar. 22, 2007 - BSC was featured in the lightning round and rated Bullish at 149.52.
Feb. 27, 2007 - BSC was featured in the featured stocks and rated Buy at 151.25.
Sep. 22, 2006 - BSC was featured in the lightning round and rated Bullish at 135.77.
Jun. 20, 2006 - BSC was featured in the featured stocks and rated Buy at 130.45.
Jun. 16, 2006 - BSC was featured in the featured stocks and rated Buy at 129.76.
Apr. 25, 2006 - BSC was featured in the lightning round and rated Bullish at 140.32.
Mar. 15, 2006 - BSC was featured in the lightning round and rated Bullish at 132.24.
Mar. 13, 2006 - BSC was featured in the lightning round and rated Bullish at 129.19.

Jan. 3, 2008 - CFC was featured in the featured stocks and rated Sell at 8.77.
Dec. 11, 2007 - CFC was featured in the lightning round and rated Bearish at 11.33.
Nov. 16, 2007 - CFC was featured in the featured stocks and rated Bearish at 12.07.
Nov. 5, 2007 - CFC was featured in the lightning round and rated Bullish at 14.62.
Sep. 5, 2007 - CFC was featured in the lightning round and rated Bearish at 18.60.
Aug. 23, 2007 - CFC was featured in the mad mail and rated Bearish at 21.78.
Jul. 26, 2007 - CFC was featured in the sell block and rated Sell at 28.77.
Mar. 22, 2007 - CFC was featured in the interview and rated Bullish at 35.66.
Feb. 12, 2007 - CFC was featured in the lightning round and rated Bullish at 40.03.
Oct. 4, 2006 - CFC was featured in the featured stocks and rated Buy at 35.50.
Aug. 15, 2006 - CFC was featured in the lightning round and rated Bullish at 33.16.
Aug. 9, 2006 - CFC was featured in the lightning round and rated Bearish at 33.04.
Jul. 19, 2006 - CFC was featured in the lightning round and rated Bullish at 37.33.
May. 2, 2006 - CFC was featured in the lightning round and rated Bullish at 38.63.
Apr. 5, 2006 - CFC was featured in the lightning round and rated Bullish at 36.39.
Mar. 24, 2006 - CFC was featured in the lightning round and rated Bullish at 35.37.

Jan. 8, 2008 - MER was featured in the featured stocks and rated Bullish at 48.17.
Oct. 24, 2007 - MER was featured in the featured stocks and rated Bearish at 62.88.
Oct. 4, 2007 - MER was featured in the lightning round and rated Bullish at 74.38.
Jul. 13, 2007 - MER was featured in the featured stocks and rated Buy at 85.67.
Jul. 5, 2007 - MER was featured in the mad mail and rated Bullish at 83.06.
Jun. 5, 2007 - MER was featured in the lightning round and rated Bullish at 90.84.
Feb. 27, 2007 - MER was featured in the featured stocks and rated Buy at 82.28.
Oct. 13, 2006 - MER was featured in the featured stocks and rated Buy at 81.91.
Sep. 20, 2006 - MER was featured in the lightning round and rated Bullish at 76.09.
Jun. 16, 2006 - MER was featured in the lightning round and rated Bullish at 65.66.