ACCOUNTABILITY?
I wrote the other day about a really dumb strategy Jim Cramer wrote about on his site. It was dumber than dumb and he has not written anything yet to follow up on this "go to" strategy.
If you don't remember here is what he said:
"Now, if you are trading like I described, you would have kicked out a lot of stuff at the opening -- faded it, so to speak. Now you have to begin to buy the stuff back. Oh, the pain! Seems so wrong. Doesn't the market look awful? Couldn't we be in for some difficulties because of expiration?"
That is what he wrote on Tuesday at 12:46 PM Eastern time when the SPY was trading at the 129.5 level or over $2.25 higher than where we now trade. Why is there no accountability, why doesn't he follow up on any of these dopey strategies? Why does the media treat him like he is the only guru who always gets it right?
Now you know why I and other bloggers hammer away at him. He is harmful to your financial well being.
posted by DAVID at
12:01 PM
2 Comments:
It's simply because he's always animated and bullish on the markets. He's bullish about everything, and the people who get their financial information from the TV (ie CNBC) and all those acts he's appeared on recently like to know that the market is going up.
It'll only be a matter of time before people stop listening to him when they get burned by all his overly bullish picks. It also doesn't help that he's getting a little carried away with it. I think all this extra attention has really gone to his head.
Cramer can't possibly be that dumb to give out such horrid advice daily. That leaves us with real questions as to what his true motiviations are for his less then stellar stock commentary on a daily basis. I will let you decide where I am going with that..
Hedge fund mouth piece. How many blank checks do his buddies from Goldman give him now a days.....
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