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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (44042)	10/24/2005 12:57:23 PM
From: orkrious	Read Replies (1) \| Respond to of 110194

bears are doomed. cramer says sell the rally Use Program Trades to Your Advantage By James J. Cramer RealMoney.com Columnist 10/24/2005 10:40 AM EDT Click here for more stories by James J. Cramer thestreet.com Where'd the bears go? Where are all those guys who emailed me on Friday and told me the market was cooked and that we were headed right down? Where did those guys go? I have to tell you that the bears on this tape have less conviction than the bulls. You get a couple of buyers in the futures and you have a wholesale shift in buying and selling. I continue to believe that the expiration was totally out of control last week, a week in which individual stock news played almost no role, with the exception of Caterpillar (CAT:NYSE - commentary - research - Cramer's Take). That's a discouraging time for individual stock pickers who value research. For example, not all oil and gas companies are created equal, but most are in one important index or another and they are trading totally homogenously. Same thing with the banks because of the BKX, even though some of them are hedged well and growing and others are just getting slammed. That means you have to be more patient and use the program trading to your advantage. However, if you value how you are "marked" at the bell, you simply can't play. I, for one, believe this rally is just as phony as the selloff was, based on nothing and doomed to revert to some bizarre mean. So you sell the stuff that the futures are taking up. A simple but discouraging formula.