Posted on 09/26/2008 8:19:39 PM PDT by 11th_VA
20% Jobless
Dow 8,000 (now I know where to get back in)
Kramer could use some Prozac... or at least some Decaffientated coffee.
Cramer isn’t always correct.
I’d say 9500 on the Dow would be a good, safe landing place. 7500 would bring hardship.
But this is America and we can recover from anything and everything.
Except Obama.
I think he is right
Kramer is the living metaphore for the old adage:
“Even a broken clock is right twice a day.”
March 11, Cramer told an e-mailer not to sell the beleaguered investment bank’s stock on his show’s Web site:
“Dear Jim: Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? --Peter
Cramer says: “No! No! No! Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear.”
I saw him earlier this evening. He had a BIG picture of Richard Shelby behind him, and called him “Herbert Hoover”.
IMHO, Kramer’s just pissed he hasn’t gotten, HIS, HIS BUDDIES, and all the dumb ASSES that listen to him, bailed out with my tax dollars yet.
As for the DOW, I did a Fibonacci study this week and it brought the low on the DOW to 10,088. If it breaks that, look for that 7,000+ number and Katy Bar The Door!!!
It’s sure looking like a Depression to me. No jobs, foreclosures, banks failing. The wall street greed is a big paet of this, just as it was in the 1920s.
I take Cramer with a grain of salt - but this show is fun ...
BTW, I do see the Dow heading South. I’m looking at 7000. Then I’m really gonna put some in.
Put your cash in a safe place, under your matress.
I remember when Cramer said the NASDQ was going to 5000! I believed him. my dumb a$$.
Cramer is 100% correct on things being on the edge of depression.
Bank runs are taking place. That’s what killed WaMu and will kill Wachovia. And what happens is that those banks are mere shells that can no longer lend and employees are laid off by the thousands. In the meantime, tons of money funds and investors own bonds issued by WaMu and Wachovia that go bust. So those losses have to be taken.
This is real damage to the economy that will take months before the general public sees it.
That said, I don’t want the Paulson bailout in the form it’s in. And Paulson or no Paulson, we needed to flush out these weak sisters like WaMu and Wachovia before we can grow again. The pain perhaps was inevitable.
I’m mostly in bonds at this point, 7,000 sounds like a good entry point ...
Kramer is a screamer, has been all along, with or without a depression or recession. Something wrong with a guy who has to scream all the time.
I have met Richard Shelby, he is not that great of a statesman.
It would matter if Cramer knew his a.ss from a whole in the ground. All he is focused on is ratings.
I love the “houuuuse offf Paaaaiiin”
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