Sunday, July 18, 2010

Cramer -- A Reevaluation Leading to Wobbles and Whoppers

(c) 2010 F. Bruce Abel

The market has knocked the whanker-pins out from Jim Cramer's gyroscope.  He's wobbly now.  On Friday he said he had told his fans to sell out of the market.  Then he said this whopper:

"You were to sell as various of my bullet-points were satisfied so you avoided today's crash."

What he had said when he set up the bullet-point thesis in June 6, was that the market was not safe until all of the bullet-points were satisfied.  Check it out by clicking onto my "Cramer Yesterday" label.

At a deeper level Jim Cramer's show Mad Money depends on their being a market with which to recommend stocks.  There is barely such, in his mind now.  It's a casino.  Bet on black or red.  That's it.

So he has set up bullet boints to be "bully points" -- bullying us to believe that his listeners made money this month if they followed him.

Oh, and he took a week's vacation.  What's about that?  What are we Pajama Traders supposed to do?  At least give us some notification that you're doing it.  Don't just leave! (us hanging)