Jim Cramer3:29 PM
"Every time we feel like we are about to fall off a cliff some hidden hand comes in and starts buying em.. ridiculous... "
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[Jul 3: Invisible Hand Video]
[Jan 9: An Amazing Blunt Commentary on the Plunge Protection Team]
I always feel pride when I convert a pundit
Jim, don't forget what they do nearly every morning - there is a reason futures are "up" (magic) almost every day between 8:30 and 9:30 AM, and we can never get one of those down 300 Dow premarkets that create bottoms (unless SocGen unwinding trades of a rogue French trader overpowers the hand one morning I suppose) Just imagine the egg on "their" face when the market cannot hold a rally in the face of our government officials now out there considering buying stock to prop up entities. It is so laughable now. (in a sad way)
This is like a slow motion crash - I keep saying they keep pulling off the band aid slowly every day instead of ripping it off and letting us feel the purge.
It's awfully quiet out there - did you all give up the fight? :) Maybe this will be the selloff that does not end in climax, but just ends in attrition - much like the selloffs in 2001-2002.
6 comments:
It is awfully quiet out there! Personally, I'm just beat up and worn down from this market. MOS and Ultrashorts are keeping me alive, but my spirit is broken
death to the bull by a thousand cuts. We've had major sell offs in all of the areas (well, decent sell-offs anyways), it's just that they never occurred at the same time, so there was always a hiding place. The commodities are a haven again from the financials. Personally, I'm giving up on the worst of breed financials and going back to doing what I do best. And that's sector allocation and buying themes in major sell offs. I wouldnt be surprised if commodities took another bath after the financials. Why? Just because.
TM
As soon as I read Cramer's article, I immediately thought he secretly reads your blog. Now that he has been underperforming and was spreading some kool aid, he wanted to become enlightened.
We'll see if tomorrow he comes out with an article tomorrow- "world of shortages", then we should be worried.
I'm not sure about attrition. The Vix is starting to gain some traction here. Keep an eye on it. I'd like to see a real clean house day (Dow -1000) to purge the market.
Front Running A Systemic Market Crash: PPT Style
Topics:
Executive Order 12631 -- Working Group on Financial Markets
Treasury's War Room
How To Hide PPT Action (from Mike Whitney)
What PPT Action Looks Like (from Minyanville)
How To Stage A PPT Bull Run
The Danger of Free Market Intervention
"Treasuries are therefore the engine which drives this fraudulent scheme...what one day will be exposed as the greatest abuse of financial power by US government officials in the history of our country." (Bob Chapman)
Read more here:
http://gamingthemarket.blogspot.com/2008/07/front-running-systemic-market-crash-ppt.html
BD,
"I'd like to see a real clean house day (Dow -1000) to purge the market."
Spoken like someone who went to 100% cash last week :P
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