Why I "love" James Cramer...The Way Cramer Works
... I'll be honest here; this guy is not perfect; no one is. I personally do not think he trades the oilpatch well at all - but, financials, techs, Nifty 50, INets - he knows and he knows well. Above all what he does do; is share the play by play; and explain it; in simple language better than anyone.
This guy is a must read to all beginning and intermediate traders.
Okay... I know soooooo many of you guys think - "Cramer" ??? you gotta be kidding... WRONG ! - yes; Cramer !
Read the guy and learn.... he is among the few "Professor's" accessible to the average "Joe Trader".
Everyone seems to question any degree of active trading... especially when someone sells, or takes profit in a stock - especially after issuing a "Buy" call...
Cramer has a good article today; about issuing a "BUY" call and then near immediately - turning on a dime (reacting to the defense - audiblizing) and doing a 180 degree turn; and selling (profit taking)...
Sometimes this thread seems to react to someone/anyone switching gears midstream as either stupid, spindoctoring, manipulating, or reversing a call.... not at all. Again; there is the longterm gameplan; and there is the time to call an "audible" at the line... knowing the difference is what separates the Elways, Marino's & Montanna's from the no names...
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thestreet.com ... free trial offer/take advantage of it.
By James J. Cramer
10/1/99 11:22 AM ET
You have to understand the way I work. I told you yesterday I was buying Micron (MU:NYSE) into the weakness. All the way down. Got a real good average. Shared it with you. Of course, I was immediately bombarded by losers who told me I didn't know what I was talking about. Stop emailing me and start betting against me. This email stuff just wastes your time and mine!
Then the most powerful analyst on Wall Street, Maria Bartiromo from CNBC, squawks that Micron might preannounce to the upside. Oh, darn it all, now I have to call an audible because while I like Micron, I don't think that happens. So, up 5, I sell it. I take the gain. I told you that, too.
Do I hate Micron? No, I hate totalitarian Nazis and Communists and genocidal freaks who would hurt our great nation, as well as anyone who is mean to my kids. Do I love Micron? No, I love my family. Do I like Micron the stock? Yes, when it is not overly hyped by the most powerful analyst on Wall Street. Do I like it up 5 after she squawks to look for a preannouncement that I don't expect?
No.
Get it? Down 5, I like it. Up 5, I don't.
Get used to it. It is what I do. I am a trader
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ie: RRC.... on a pop off of light volume - I sell it; on a pop on heavy volume - I like it - I hold it and let it run...
MEXP.... on heavy daily volume near $2 - I accumulate, I like it - I want more. On low volume, 10-20,000 per day; even at the same price of $2 - I don't like it; because I can't unload it quickly enough if it pops to $3.... so I just sit with a 1/7th of my former position; knowing I can probably unload that... now, if MEXP's volume picks back up to 75-100,000 shares a day at $2.... then "I'm baaaaaaaack"....
Cramer,,,,, listen & learn; I did... I still do... |
