The same Jim Cramer that said Bear Stearns was a great stock two days before it collapsed?
Loud-mouth, inflamatory, idiot.
Was he screaming, waving his arms, throwing things, and pounding multiple sound effect buttons when he said this?
If not, how do we know it was the real Jim Cramer?
He is a basket case sensationalist.
Stopped clock. Twice a day.
Just do the opposite of what he says and you’ll prosper. When the market is at the top, he’ll scream buy buy buy, when it’s bottomed out, Sell, Sell, get out!
Cramer is a contrarian indicator. Do exactly the opposite of everything he says and you will be rich.
He’s basically acknowledging one of the more drastic scenarios floating around in the financial ether that the Dow could retrace and give up everything gained since its 2002 low. Such a move would be a 100% retracement, whereas a normal retracement is only 50%. It’s not unreasonable with the depth and breadth of the crisis, but I think unlikely.
What Cramer (who is indeed a contrarian indicator) forgets is that there is nothing keeping anyone from modifying the components— the 30 stocks— which comprise the Dow. Don’t like the results, fudge the numbers...AIG, a Dow 30 stock at the onset of the crisis, has already been replaced. Ditto for Wamu, Countryside, Lehman Bros. in the S&P500.
Short selling resumes tomorrow (unless Uncle Sugar and his buttboy Jorgito step in again) and the pressure will indeed be down, which will be followed, probably on Friday by that most inevitable consequence, the “short squeeze” where shorts are compelled to buy shares to cover their positions, creating artificlly high demand for shares of the affected companies. Pop to the upside.
I see no difference between the harm jimbo does and the harm of cafferty and/or olberdufus and the tingly leg guy.
They’re all certifiably nuts.
He has a lot of practice being wrong.
Dow 2 pennies if Obama wins.
Cramer having an aneurysm - on live TV - is a “real possibility”, too.
Cramer needs to be medicated. Is he still telling us Bear Sterns is solid?
You can bet that once the market has bottomed and is bouncing back, ole Jim will again be yelling Buy Buy Buy; all the while reminding us that he indeed picked the bottom correctly.
Who knows if yesterday’s intraday low is the bottom or not. FYI, Cramer was on the CNBC set yesterday participating in a discussion at the moment the Dow hit -800 points.
video here:
http://www.cnbc.com/id/15840232?video=879954272&play=1