Cramer just called the bottom
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I cannot believe I am doing this but am going to play devil's advocate. For the record, I cannot stand Cramer.
However. I have access to the real money.com website because I like to see what some of the guys on there have to say. Cramer actually called the bottom on the daily blog they have there about 11:30 am or so this morning. I think he was just a hair early but was actually spot on.
I didn't listen to his show to see what he said. But for the past couple of days in writing he has been saying you cannot buy yet. This was probably the best call I have ever seen him make. And I fully expect it to be mostly bad calls from here out. But today, he made a great one.
However. I have access to the real money.com website because I like to see what some of the guys on there have to say. Cramer actually called the bottom on the daily blog they have there about 11:30 am or so this morning. I think he was just a hair early but was actually spot on.
I didn't listen to his show to see what he said. But for the past couple of days in writing he has been saying you cannot buy yet. This was probably the best call I have ever seen him make. And I fully expect it to be mostly bad calls from here out. But today, he made a great one.
Cramer called "The bottom" on the financials in mid December.
He went wildly bullish on the dry bulk shippers at the exact top.
He's been bullish on Citi for the last 25 points down.
He said CFC was "immune" from the sub prime woes back in the summer.
His infamous "stocks that hit 80 go to 120" call marked the exact high of the market.
Also, he declared a "bear market" on CNBC just yesterday morning, now he's calling a bottom?!!!
WTF? How can this guy have any shred of credibility?
While honest as a $3 bill, I think we can all admit that Cramer serves his purpose well, to our benefit: Bringing fresh dumb money into the market!
tetuan01
It wasn't a bottom. The market would have ended deep in the red if not for the news of the fed bailing out bonds around 2:30 this afternoon.
Cramer didn't call crap.
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I didn't say it was a bottom, but it was a bottom for today and if you bought that bottom you made money.
And if you are going to flame me at least know what you are talking about. The rumor was the the NY government was looking into building a package to bail out the monoline bond insurance companies such as MBI and ABK, not bonds themselves. That is indeed what gave the upmove it's second thrust, from around 1300 on the ES to the close at 1340. The market was already well beyond the bottom when this news came out and the second leg of the rally ensued.
Like I said, I am no cramer fan, I am just saying he made a call that made you money today. And I also said his next call was likely not to.
It wasn't a bottom. The market would have ended deep in the red if not for the news of the fed bailing out bonds around 2:30 this afternoon.
Cramer didn't call crap.
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I didn't say it was a bottom, but it was a bottom for today and if you bought that bottom you made money.
And if you are going to flame me at least know what you are talking about. The rumor was the the NY government was looking into building a package to bail out the monoline bond insurance companies such as MBI and ABK, not bonds themselves. That is indeed what gave the upmove it's second thrust, from around 1300 on the ES to the close at 1340. The market was already well beyond the bottom when this news came out and the second leg of the rally ensued.
Like I said, I am no cramer fan, I am just saying he made a call that made you money today. And I also said his next call was likely not to.
