... he's entertaining. That's what I was commenting on the other day when I said even the financial markets are just TV shows today. People (unlike myself) can't really watch such mundane things like the stock tape all day, and listen to some guy read from a tele-prompter (I turn the sound off a lot) without making it as entertaining as possible. Most of those talking heads don't know what that stuff is that they're reading anyway. But they're allowed to comment so long as they stay within the company guidelines and editorial policy. If you listen carefully you can't help notice the political leanings of everyone. Guests that differ are challenged vigorously, and sometimes pounded when they say things that are taboo to them. They even laugh and/or sneer at some people, and just cut them off when they really get aggrivated with them. Remember... you'll almost NEVER hear the word "SELL" from them. Official company is policy is gospel: "GOLD is bad, dollars are good, and never the twain shall meet". The market has some nerve going down too! Those weird traders are doing it. They're bad too. That's the way they are, because that's what sells, and they need to keep the viewers coming back to see the "SHOW"!!! They've even interjected their stooges into the trader talk program, that obviously wasn't showy enough for the Booya crowd. AT 8PM EST people are tired and want something a little lighter and more entertaining. Those traders shouldn't be allowed too much airtime without getting interrupted. They could start some trouble by getting a little too informative about things that the boss wouldn't like people to hear. But Cramer.. he's both entertaining and worth watching and is already worth about 400K from his days of trading like a madman! He's got plenty of great experience to pull it off too. A rare combination. He really appeals to "Joe6Pack" and a wide variety of viewers of different lifestyles as well. And like anyone else, he's not perfect, but at least he's up front when he makes mistakes. And like anyone else, he doesn't know the future either. He gets paid to draw as big an audience in prime time by using his antics very successfully. So Cramer says there's a 50% chance the low will hold... but he could also have said there's a 50% chance that it won't! Me? I think it's got a better chance to go lower before it goes higher. Maybe, maybe not! Even Cramer said corrections move in 3's, down - up, down - up, down... make a bottom and start up again. The up's during corrections are what they call "dead-cat" bounces. In closing... there's no question about it... Kudlow is definitely an idiot. I think a Kudlow pet rock would look good swinging from a ceiling fan too. :)
Actually have little faith in Kudlow myself. Wouldn't watch him except he is right before MadMoney. MadMoney had that the bottom was tested Thursday, after the Tuesday debacle. Also said it has a 50% chance of holding this bottom. He (Cramer) gave a good monologue on how to read the bottoms, which can be read at www.cramersez.com if you missed it. So, as long as we keep holding the bottom around 12050, we should be good, and there should be no more downside than that. However, should the market crack below that, then we will have to see what the next line of support will be. If 12050 doesn't hold, look for up to a 10% decline from recent highs before there is any more support, just an educated guess. Of course, using 12600 as the basis, this means we could see 11340, or thereabout, as the new bottom. Here's hoping 12050 doesn't break.
Let me translate, good buddy:
The market could go up or down. I really dont know nor does anybody else because markets by their nature are unpredictable. I just work harder than every other screball on this board and project in them all my own flaws. Dummy.
Yo spliter... you're right about KISS... but you know that's next to impossible for me the way I just love to go on and on so incessantly. I just love to get detailed, trying to make sure that I don't leave something out that could be crucial and end up misleading. If I sat down with you and started going through those charts the way I always do, you'd get blurry-eyed. If there's something that very subtle, I don't want to miss it. That's the kind of thing that can be costly. KISS you say... OKAY, OKAY... bye. :)
...but I could go on a little more.
Why be so selective? TV only hire nozzles that haven't got the sleightest idea what's going on. First and foremost with TV, no matter what the subject, it is presented as a "SHOW". Otherwise, nobody would watch, except maybe market nuts like me. We'd be considered "nerds" by the empty headed, always confused about everything people that need to be themselves and act stupid. That's no problem, that's one of the qualifications to work there. This AM, Joe Kernan was so upset with the way the market was acting that any traders that kept telling them why things were happening, that his final comment was "traders are weird". What a brilliant commentary from a former stock broker! But ya know something... the very first time I bought a stock, I went to a broker and asked him to pick a stock for me. A month later, my money was gone. From that day forward, I NEVER listened to those yutz's again. I began reading everything in the library before I finally figured out the best way to go. The techies... they're the only one's that ever tell those idiots what's going on, but they don't like that sort of reasoning. To the sheeple, it's not anything technical, it's the computer's having glitches, and making people sell today. What ever happened to the weak dollar, and the lousy housing market, and all the rest of the problems like the Japanese getting sick of us. Especially Greenspan setting them off over the "R" word. Amazing! Larry's an idiot you say? He's got lots of company, and many reside right here sounding just like them. The first thing that happens daily is all the why's and howcome's have to be explained so that things sound satisfactory to the folks at home. They can't be upsetting anyone, and causing them to "SELL". That word is a "NO NO". Buy is good. Sell is bad. If you're looking for better, use them as a clue to think just the opposite. It won't ever change, no more than the moron's that post here will ever change. I've actually found several people posting here that were excellent barometers of when to buy and sell... contrary to the misguided hot topics. You can get that from the pumper's and dumper's too. Beware the "IDE"S OF MARCH"!!!
J-4...you wanted me to call gold a day or so ago...you said going down...i said i didn't know...(and damn i hate to make predictions) BUT..if the market tanks...shouldn't gold be going up??
>>i realize a while back...as the market rose...gold rose with it...at some point perhaps there will/should be a disconnect?
>>did you catch bollinger on cnbc...i didn't pay real close attention..just sa2w he was there and belive he said mkt will go up from here...thus..i guess..gold will go up too"?
>>have you run the the fibbies on dow & gold....
aprox 11400/11500 dow...and as you said the other day...615/610 gold............ (both those are 62% NUMBERS INTERDAY ..DAY OF CRASH)