Wall Street Manna

An irreverent look at Wall Street

Thursday, May 27, 2010

Cramer gives the all clear to buy

Because he doesn't buy the rally!! He's had a couple articles on his site that all start like this:

Can't Trust This Move -- Even Though It's UpDown 2, up 2. Can't catch the up 2, happens at the opening. Can't sell the down 2, it happened at the opening. Can buy the down 2, but might be down 3. Blah blah blah. This market is unstable to the upside today. Unstable and wobbly and dangerous. It's just as wobbly and unstable and dangerous to the downside. You can't have a market that opens up limit or down limit as if it is lumber and keep players in -- a la what Doug Kass says -- with this kind of activity. You can't have a market that goes up 200 points because of a rumor about China dumping European bonds gets disproved. Or maybe wasn't made at all. You can't have it and think that it is a "good" one that you want to buy into....

Blah blah blah......

Cramer, the chief stock pimp of CNBC is bearish and doesn't trust this market.

What more do you need to buy???



At May 27, 2010 at 3:00 PM , Anonymous Anonymous said...

you don't think there could be a run to 1140 levels and then crash down hard? that's the bear story.

At May 27, 2010 at 3:12 PM , Blogger Palmoni said...

just give me 1140 first!!

by then, the bears will be back in hibernation!!

At May 27, 2010 at 3:29 PM , Anonymous Anonymous said...

Palmoni: Why do you work so hard on the prediction business? You have some good ideas. I feel you have alot to offer but insist on pimping bears and make every uptick the last chance to get in. You don't strike me in your writing that you believe some of your own predictions.(like 1440 sp by june)Prediction biz is very difficult but it seems in your individual stx picks are high % of winners. Are you making bold predictions to make a name to build on or to help the average investor?

At May 27, 2010 at 3:44 PM , Anonymous Anonymous said...

feels like the bears are wanting 1140...interesting times! thanks for all you provide.

At May 27, 2010 at 5:05 PM , Blogger Sam said...

With my 1040 tagged, got long at 1052 and staying in. Unless it round-trips to 1050 (my stop) again, I'm not getting shaken out.

At May 27, 2010 at 7:55 PM , Anonymous Anonymous said...

so now cramer is your contrarian indicator? thats even worse than cramer himself

At May 28, 2010 at 8:53 AM , Blogger Palmoni said...

i think 1440 is fair value for the market--in a environment where you don't have to worry about the wheels falling off of the cart

but we still don't have that environment right now


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