Cramer - ''did'' most definitely call the Fed Cut/ S&L and Oilpatch ''pops'' !
Cramer in a Yahoo Chat - ''The Summit'' in New York; a live chat with 12 Analysts/Fund Managers Oct 3rd (?) said he doubled up in the S&L's - had stated they ''would go to the moon - Alice'' with another Fed Cut and said the Oils would ''pop'' as well. He's been long the oilpatch and stated such for a few weeks in many articles & appearances.
What my main point is; is that Cramer predicted the sector would move on a rate cut; everyone else was talking Opec news, supply numbers, earnings etc. - directly flying into the face of - ''it's the price of Oil - stupid'' etc. Give the guy credit where it IS due. The sector popped on the rate cut and not on earnings or crude news...
While he did write the articles you mentioned; and they were doom & gloom - but, how could they not be on a day like that ? I think he has the right to react to market events. People seem to think that any comments or positions - must be carved in stone. I think he is far from irrationally exuberant right now. Sure, he's short some sectors and stocks and long others; one can be buying, but still be negative on the total market. He clearly stated that he was buying the oilpatch long and the S&L's - these 2 sectors were his fav's. The guy didn't selloff his entire portfolio or go short everything ! - He was down on the overall market and may still be - which I still am; but long on certain sectors; S&L's/Regional Banks (Summit & Mellon) and the Oilpatch... he never wavered from these... Personally; I enjoy hearing the day to day - ''ups & downs'' in a traders life etc. This guy is honest enough and brave enough to wear his heart on his sleeve on occassion. The only people who never get criticized or who are never wrong; are those who never take a position or a stand on anything.
Overall the guy has an outstanding record, has good analysis, excellent trading savy and shares a ton of info & experience. Love him or hate him; this guy has educated, informed and entertained. If I could have lunch with any 3 people of my choice - he'd have one of the chairs...
I don't live & die by the guy; but He is the one guy I will watch or read when ever I have the opportunity. He has simultaneously added both an educational and entertainment element to an otherwise staid, conservative and very boring business... How many Horn-Rimmed, Pencil Necked Geeks do you want to watch on CNBC... Give me Cramer ! He did (and he admitted as much) get over-exposed. Too much was too much. Is he perfect - no; no one is. However, if you see how many times this guy puts his ass on the line; basically daily... He takes a lot of hits & criticism; mainly because he will tell you point blank - what the hell he thinks ! He will tell you- ''the what'' and ''the why''... This guy is a ''Mensch'' in my book.
Coming from a competitive Sports and Business background; I have all ways failed to understand why sooo many people are put off by any degree of bravado, confidence, brashness etc... ? Give me people who are not afraid of ''putting it on the line''... any day ! Also; with out some enthusiasm, passion or drive - why bother ? Way toooo many people just waddle through life; it takes an occassional "Cramer" to add a little fire to the belly of the beast...
PS Francois; great chart on HAL; very interesting ! HAL's volume is showing a strong breakout - by far the best surge in the last year. Also; the RSI spike is stronger than the March to May move - it looks like the Summer to Fall move from 1997 ! I will choose my companies and stocks on fundamentals; but I do not discount the validity or value of technical analysis at times like these... sure looks like a good trading opp here. |
