Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Softechie who wrote (96366)	7/19/2002 11:10:43 PM
From: puborectalis	of 99280

Walking Out on the Insiders By James J. Cramer 07/19/2002 05:31 PM EDT They clocked the sucker. They just ripped it apart. And that phony expiration pricing really did the trick to make the whole world feel that the game is rigged. I talked to many people this week who feel completely betrayed by equities. For the most part, they were brainwashed buy-and-holders who used to laugh at my defensive selling and trading. They are bleeding from the eyeballs and they think it is a total insiders game, and stuff like the Goldman (GS:NYSE - news - commentary - research - analysis) and UPS (UPS:NYSE - news - commentary - research - analysis) prints at the bell certainly go a long way to confirm that. I think the depth of anger and despair about this market is so great that we can't expect anything but a feeble rally if we get a rally at all. In the meantime, the earnings that come out between now and August will for the most part be filled with the warts-and-all view that we got from a Pepsi (PEP:NYSE - news - commentary - research - analysis) or a Baxter (BAX:NYSE - news - commentary - research - analysis) or a Philip Morris (MO:NYSE - news - commentary - research - analysis). In other words, lower prices ahead. The fact that we couldn't rally on expiration week is a very negative turn of events. Steel yourself.

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