Jim Cramer on CNBC:
This sell off has been manipulated by "Bozo Hedge Funds."
Its caused by Hedge fund redemptions.
Hedge funds are manipulating the markets down; Jim could "scare the S&P down 2%"
JJC: Don’t be scared, start buying stocks right here. The hard landing scenario is a scare case by the Bears. Market is over reacting to the economic news, nback up the truck and start buying now.
He does admit the economy is slowing down, and he also likes Health Care (a classic defensive sector).
Category: Financial Press
Another edition of our new series: Blog Spotlight.
We put together a short list of excellent but somewhat overlooked
blog that deserves a greater audience. Expect to see a post from a
different featured blogger here every Tuesday and Thursday evening,
Second up in our Blogger Spotlight: Michael Shedlock and Mish’s Global Economic Trend Analysis.
Mike is one of the editors of The Survival Report, covering stocks and
the economy. He also writes for the Daily Reckoning, and co-edits
Whiskey & Gunpowder. He also runs stock boards on the Motley Fool,
Silicon Investor, and TheMarketTraders. He is an avid photographer,
when not writing about stocks or the economy, with over 80 magazine and
book covers to his credit.
The following post is an email from Michael J. Dorff, a mortgage broker with Trans World Financial about the state of affairs in Orange County California. Monday evening I will have an update from Mike Morgan to share:
Category: Blog Spotlight