Comments on: Sucker’s Rally?

By: leftback

leftback — Thu, 14 Aug 2008 07:50:33 +0000

Sean – calling bounces is an art not a science. You can always stay short if you don’t enjoy the ride but some counter-trend rallies do seem telegraphed, especially when technicals coincide with interference, rule-changing, PPT – call it what you will.

Barry – Cramer is starting to sound out of control – he is making shorting stocks sound like civil disobedience at best, criminal activity at worst. This crap is anathema to free markets.

Where was Cramer during the repeated cycles of `Pump and Dump’ as the banks raised capital that they “didn’t need”? There are real crooks here but they are not the shorts.

By: Scott in Chicago

Scott in Chicago — Thu, 14 Aug 2008 01:44:41 +0000

Barry said, “…Kinda academic like..” to which I reply with a bit of a happy snot laugh and a “well played, dude..” and while I see your point re: Blodget, I just cannot stomach the guy. Back when Lou (effing) Dobbs did biz reporting young Henry spouted that “new paradigm” b.s. too many times. Though I have zero doubt that many and much bigger fish than he did worse and walked away unscathed; and are doing so right now, in fact.

By: sean

sean — Thu, 14 Aug 2008 01:40:39 +0000

Yeah, but you and your cronies also called for a bounce around 1280, a week and a half earlier:]

By: CNBC Sucks

CNBC Sucks — Wed, 13 Aug 2008 20:58:43 +0000

The more Cramer continues to make these atrociously incorrect market calls, the more people will associate / confuse him with the hipster doofus from Seinfeld.

Just get ready to have a seasonal suckers’ rally for the next few years (20 years if McCain gets elected). We had the Spring ’08 Sucker’s Rally, now it’s the Summer ’08 Sucker’s Rally. Eventually, the problem will not be ugly returns but boredom and ultimately indifference.

By: Tony

Tony — Wed, 13 Aug 2008 20:32:40 +0000

Uptrends are uptrends and the run since mid-July has still not penetrated support. The fundies may be bad, but how much was priced in?

By: Noob

Noob — Wed, 13 Aug 2008 19:54:43 +0000

Vermont Trader,

Could you explain a little more about mutual fund redemptions and their mid-term affects on the market?

Thanks.

By: Matt M.

Matt M. — Wed, 13 Aug 2008 19:42:08 +0000

Plenty of honest people selling things…. my point was that there seems to be all sorts of anger towards a couple of guys who are in the media biz….not the trading biz. Eagle traders don’t talk…..almost every person you see on CNBC and (& wherever Blodget is) is there for a different reason than to give you good trading advice. That’s all was saying.

By: Scott in Chicago

Scott in Chicago — Wed, 13 Aug 2008 19:20:47 +0000

Matt…I guess my point re: Blodget is that we should be paying his rent and he should be making out license plates. And Mozillo should be his roomie and love slave. Otherwise I’m just having some fun and tweaking Barry a little. As for managing, focusing, relaxing,etc. Now why didn’t I think of that? If I was any more relaxed today I’d be comatose ;) Happy trading

By: Jeff

Jeff — Wed, 13 Aug 2008 19:19:10 +0000

@ Matt M: So what you’re saying is it’s impossible to “sell” something and not be honest or have any semblance integrity? Am I being quaintly naive in asking for such things?

I’m skeptical of everything that I read or hear (even this blog), but I do think that a return to some semblance of honesty and integrity (regardless of what people are “selling”) is a requirement to keep confidence and long term viability in our so-called “capitalist free market” (and I use that term loosely for obvious reasons) system.

By: Matt M.

Matt M. — Wed, 13 Aug 2008 19:06:59 +0000

Wow! Lot of folks have some anger issues towards media folk. Too funny…..calm down… Cramer is selling subs and ratings….Blodget is just trying to pay his rent…Barry is selling research (Fusion)… everyone you read or see is selling something. Just manage your capital…focus on your system…keep intense discipline and you’ll be fine. Relax!