He said tonight that the media cant see the big picture and that things are a lot better than you think - he is in buy mode and is not afraid at all - its buy buy buiy you cant lose according to Cramer - dont forget - this is the same $$$hole that had you losing your fanny just last year - I remeber him saying "the govt will never let Lehman Bros go under" . Cramer is the biggest media fool in the history - and some people buy on his hype - With jobs going out the window and more job losses coming - when govt money runs out and the stimulous "prop up" job is over - with many of us out of work, under employed and our real estate equity wiped out or drastically reduced - just where will we get money to spend - retail is way way way - over bought - i see a big move DOWN coming very soon - if seasonal forces play as they have in the past - possibly Sept or Oct could see a massive correction
I also realize - we could be in a PARABOLIC Bear market rally - and any student of math knows what a parabola looks like - i think we are near the top of one now!!!! just look where most retail stocks are on Stochastics, RSI , W%R and MACD - and then look at the fundamentals of actual year over year and qtr over qtr numbers (NOT THE WALL STREET ESTIMATE GAME - what a crock - we beat by a penny - even though sales are down 33% from this qtr last year!!!!! - what a sham created by the Goldman Sachs and Morgan Stanleys of the market world) - Yes Retail has some blood letting to do - even if we have seen the ultimate lows
Basics are this - No Jobs and Under employment PLUS House (much lower than last year and the year before) EQUALS - Less Money to spend at the retail level - Its as simple as that!!!
It does not take a NASA engineer to figure it out!!!!
The only reason the market has gone so far so fast - fund manager momentum plays have run it up - Far beyond fundamentals - the fund mgr's did not want to be left behind - and jumped in - and now you see some of the Dumbest - Silliest Reasoning for buying - We have litterally created a second bubble in just 5 short mania panic buying months!!! Watch out - buy at your own peril - listen to the Cramers of the world at your own risk - as for me - I'll take my ole buddy Martin Zweigs advice - "Sometimes the best money you make is just not losing money!!!!
I think the market is sucking in more and more money until it will exhaust its self out for a while and nail a few of us!!!!!I sold out of it all two weeks ago and am in 95% cash - the only stocks i own are the gold stocks i purchased just a few weeks ago!!!!- But am not short - YET!!!