He is taking 5320...
I had to call to borrow diamonds today to short intra-day. That is kind of a sign of some kind.
Too many people may be short.
Its up to the government to trigger any rally and they don't seem to want to do this.
Cramer also runs a charitable trust, Action Alerts Plus:
Selling subscriptions so you can make the same trades as him, but He does not publish the returns on this fund. Something is fishy here, after 5 years running it this should be the measure of his abilities. Definite red flag here.
20+ years of running a hedge fund with average 25% returns, maybe he brought in the investors with his personality and others made the investments.
Viwers of Mad Money only hear what they want to hear. If you look back over 2008 Cramer called a bottom at least a dozen times. Cramer is like all these TV guys. They are great "after the fact." None of them knows dork as to where the market is heading. It's like Ben Stein when this sub prime started. He said its nothing to worry about. It can't affect the large banks. So it goes with Cramer. He is a farcical con artist and that my dear investers is what people want to see and hear.
Agreed people want to hear, what they want to hear..
When you tell em what they don't want to hear... they get angry...
It does not matter that their holdings have gone from $21 to $5.59. You think that would be proof enough..
The expectation is that they will be back where they started.
Beyond the strategy being self-liquidating, in bear or downward markets, we would need to see a 375% increase in the value of these shares!
The only things that are going to save these portfolios are cash, short positions to hedge, and growth stocks (mostly solar and alternative energy - with a smattering of acquisition targets}.
Cramer is one very smart dude.
I watch his show for the first 10 minutes or so because he clearly understands the tone of the market.
He will intersperse his overview with a huge body of knowledge about tangential things. Usually they are plays on words, people, and history.
--Beyond that he provides entertainment.
If anyone doubts he is a crook, just watch the Jon Stewart video from Monday night, demonstrating that Cramer recommended Bear Stearns multiple times ahead of its failure. Cramer's denials, based on a strained interpretation of one comment, are more than disingenuous.
Then yesterday on the Today Show he said twice that he told people to sell everything in October. That is a complete lie. He only told people to sell what they need for large purchases in the next 5 years, something that is always good advice.
Then there is the crooked feigned ethics whereby he only buys stocks for a charitable trust. Yet, those selections are sold to subscribers and then touted on the show to increase subscriptions. I find it sickening.
"Cramer, He is taking 5320..."
Let me correct that for you...
"Cramer, He is talking 5320...
Now that`s better.....
Anyone that listens to Cramer should have his head examined. I see that you Do! They come in all shapes and sizes. Unbelieveable!
i saw the piece where cramer was talking about the 5,200 range. i'm not sure it was meant as a prediction. he just put a worst case number on each stock in the index and came up with 5,200. he suggested it was impossible to go below that, not so much forecasting that is where it was going to go.
not defending cramer, just clarifying what he did/said.
not to long ago he also said buy GLD, i think it was buy at 96, 92, and 88 (he expected it to go down). we'll see how that pick holds up here.........