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350zCommtech's Account Talk
- Thread starter 350zCommTech
- Start date
Rod
Well-known member
Oh... so "bailout" is the keyword we are looking for to hear from these guys, right?
350zCommTech
Well-known member
350zCommTech
Well-known member
Here is a video for those of you that thinks Jim Cramer is a good guy.
I watched him for a little while also. He didn't really do ME much good because he focused more on individual stocks which I don't do much at all, but I thought maybe he could give some notion of the broad picture. But he failed miserably. When the Fed cut the discount window rate in a surprise move down .25 he came on that night ranting that NOW everything would be ok. This was way back at the beginning of the credit crisis I believe. Since then as well, he's just "off." He's behind the curve, not reading the markets well, and has become more of a personality looking for ratings than a serious analyst. He was calling for a DOW 16,500 by Jan. 1 and was off by 2000 or so. He's calling for a bull market in the midst of a global crisis revolving around credit and transparency and while the FED is rapidly lowering the prime interest rate? Ooooook.
350zCommTech
Well-known member
He is scum. Remember this little tantrum,"Fed know nothing", on CNBC?
That came just minutes after the Bear Sterns market scaring conference call. IMO, BSC and Cramer wanted the market to tank that day to put pressure on the Feds.
Remember when he used to promote the Tan Man's (his friend Mozillo) company CFC (Countrywide Financial)? He was promoting it while Mozillo was selling!!!!!
It's just amazing how he even has a fan base anymore. Anybody that listened to him on February 25th and Oct. 1st 2007 got slaughtered.
Corepuncher
Well-known member
Cramer is entertaining but he sucks. I listened to his "cramer minute" on his website, and he basically told me "i'd like to see you lighten up your positions by 50% by Friday". That was back in the summer of 2006, and I missed out on a HUGE rally. Screw that guy! I like the guys on fast money much better, the najarian bro's have been right on several times.
fedgolfer
Well-known member
Yup, a couple regular guests are the real ones that get the big calls right... Tyler Worth and Dennis Gartman... and Louise Yamada (sp?).
Silverbird
Well-known member
Although I think Cramer is just a noisebox most of the time, I do agree with him on "Where's the SEC"??? There's no confidence in the U.S. financial ratings industry, or in these shaky derivative packages. The U.S. on the whole is good about creating regulations only when needed - but regulations are needed now or the system has no credibility. The housing loan problems here would not have reverberated around the globe as nastily as they have if the loans weren't packaged in supposedly AAA investment packages.
Birchtree
Well-known member
The foolish companies that marketed CDOs and credit default swaps are the ones that are now paying the price - they are declaring their losses and we are getting soaked as well from collateral damage, but that is how an emotional market works. If you jump from the lower step you pay an inordinate higher price in pain - be right and sit tight.
350zCommTech
Well-known member
I'm calling a dead cat.
Bullitt
Well-known member
Bravo Rick. I'm a fan Rick Santelli. He's one of the few on TV that really knows what's going on out there. Looks like he finally just got sick of pumping out the company line and called Cramer out. I stopped watching Mad Money a few months ago because I got sick of his wishy-washy advice but more so due to the pathetic callers that follow him blindly like the Pied Piper.
I'm not saying he's a clown. In fact, I find him him pretty funny and very intelligent. I like when throws the chair against the wall. I'm not afraid to admit that he's taught me a thing or two along the way either. I still say that for the novice investor, his books are an excellent place to start.
As for Fast Money, I like Adami. He hardly says a thing because he's another one that knows what's going on out there. I watch Fast Money only if I DVR it, because that way it enables me to fast forward thru Macke's divine interruptions.
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RunningFool
Member
What seems strange about this market is that things that should move the market don't then suddenly either it jumps way up or the bottom falls out for little reason.
350zCommTech
Well-known member
An nobody in the media calls out the Tan-Man for his promise of a profitable 4qtr.
Rate cut rally.
Minnow
Well-known member
HMMM... must be hard for him to hear anyone... he has that new $83 million dollar (last figure I heard) tanning bed --- probably some tropical island far from the hustle and bustle. Some place where he can reflect on all his good deeds and just take it easy. Some place where the Barney Franks of the world have no voice nor power. A place where he can just be another tan man.
350zCommTech
Well-known member
The Tan-Man said that CFC was going to turn a profit for the 4qtr, with just a little over a month to go in the 4qtr. Now we find out it was a loss of $422M?
Where is the SEC?
350zCommTech
Well-known member
20dma broken, lookout above!!!
Birchtree
Well-known member
I like a man that can make a positive comment. Given all the overall weakness in recent reports, it's hard to see where inflationary pressures are going to come from in the future. The slowdown in the housing sector knocked off almost 1.2% from the GDP growth rate. If the dollar weakens some more perhaps the export numbers will beging to kick in for this quarter.
