(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)