JIMMY CRAMER FANS
It is a very boring day so I couldn't resist. For all the Cramer fans, here is what Jimmy wrote on October 9, about the OIH and how it was unownable:
"Now the Oil Service HOLDRs (OIH) is just plain pathetic. It's down, for heaven's sake. down! On a day when oil is supposed to be on fire!
I continue to believe that this is the most dangerous sector for the next month, meaning that I think there's still some downside. The fact that the downside is buyable is irrelevant. The truth is that this level is not sustainable.
I think that people are so wishful about this oil group. Everywhere I go, people are reminding me that it the weather here in the Northeast is supposed to get cold at the end of the week.
For these stocks to heal, we'd need an ice age.
I'd sell until the OIH broke $120 on the way to $115, and then we'll recalibrate."
Not exactly an ice age outside although the OIH has lifted over the $130 level in one short week. Thanks Jimmy.
And just another reminder on the DJIA picks from back in January- Jimmy picked MRK and GM as his two worst DJIA stocks for the year with December 31 targets of $25 for MRK and $20 for GM. Of course they are the two best performing DJIA stocks for the year. Congrats again to Jimmy.
1 Comments:
Found a group called Mad Money Machine singing Stock Pickin' Blues that sings about some of "Jimmy Cramer's" stock picks.
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