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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Mark Davis who wrote (13571)	8/15/2001 7:11:18 PM
From: -	Respond to of 18137

Yeah, Mark is right. Cramer is a trader - when he's long something, he will rant, rave and scream that it is going to the moon and you should own nothing but THAT. But the next day he may dump the whole position and possibly even go short. He's not the same TYPE of trader as many of us, but he's definitely a trader. Although I, like many often find him quite obnoxious, I have gleamed many useful trading-related facts and nuggets from a careful reading of his columns. In my view, the problem with Cramer is, he also puts out a lot of BS that is just dead-wrong, and you have to be able to pick out the good stuff while avoiding the dead-wrong stuff... so he's a lot of work and a bit of a load. For example, he has this big rap that the market makers are really the victims and the daytraders are the "bad guys". That sort of nonsense (and the blatant / obnoxious style) is why I turned my "Cramer filter" on about a year ago... and haven't missed the guy one bit!:) Brandon is right, though... you have to respect success! -Steve

To: Mark Davis who wrote (13571)	8/15/2001 8:27:06 PM
From: KymarFye	Respond to of 18137

OT: Cramer can be fun - I read him all the time. Still, that speech - which made the rounds a few months ago near the time of its unhappy anniversary - is worth printing out and framing: It's such a perfect relic, and, sooner or later there will be another mania - bullish or bearish - that will have similar earmarks. Maybe some of us will remember, and hold back or even think and act contrarily, despite ourselves. And I think we all know on this thread how virtually the same emotions - the same excessive certainties and crushing/crashing disappointments - are constantly playing themselves out somewhere in the stock market, if only over the course of a few seconds... As for Cramer specifically, some of you may recall that just a week or so after that speech, right near the tippy-top, he suggested that it might be time to "take some money off the table." Since that time, he's conveniently remembered the latter call - but just as conveniently seems to have forgotten the former - and has acted as though the amateur investors who had previously followed his advice and had been caught up in his typically self-certain boosterism might have been expected to understand that "take some money off the table" meant that Priceline and Sonera were not going to take over the universe after all, and that smart money should run for the hills. The problem with Cramer isn't that he's often wrong - like any of us - but rather that he so rarely seems even to be aware that he might be. If you can supply the skepticism and humility for him, he's as worth listening to as anyone.