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Pastimes : James Cramer Skeptic Thread -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (683)	9/2/1998 2:39:00 AM
From: craig crawford	Respond to of 1254

>> DOW closed up 288 pts and the suckers rally didn't hold? << I think Cramer was referring to rallies like the one this morning. Rallies where the Spoos are up 22 points and we open up a hundred points. That was the sucker's rally he was referring to. After we made a turnaround and sold off it was a buyable dip for him (and me too). The market dropped 1000 points in 3 days, opens higher and then turns around sells off another 150! If that isn't capitulation I don't know what is. The market made a pretty good bounce right near 7390-7400, a level technicians like Acampora and Favors have mentioned. >> Cramer changes his mind every 30 minutes. << Is that bad? I change my mind often as well. >> Just after he proclaims himself a raging bull, he declares himself a bear AFTER the market drops 13% << I don't recall him proclaiming himself as a raging bull lately. He did admit to being too optimistic. What more can you ask of him? At least he got bearish before the market took a 512 point haircut. After announcing $2 billion in Russia related losses, Stanley Druckenmiller sat there with Ron Insana and told the world he wasn't worried a stitch about the horrible breadth or the atrocious new high/new low list. Three days and 1000 points later he was probably thinking that one over again. Ouch! That goes for you too Mr. Louis Navellier! You couldn't have been a more perfect contrary indicator! >> And when the market recovers he'll proclaim he's a bull again AFTER a 5% increase << Well the Naz got about a 5% increase today. Cramer will be on Squawk Box tomorrow and I don't think he will be tooting the bull horn. He is playing the rally just like I will be. Usually there is always a re-test at minimum, and we could certainly go lower. >> P.S. Mr. Crawford, I find there is more value in reading your posts on SI then reading Cramer's often silly read on the market. << Well that is a very kind thing to say (thanks), but Cramer has taught me a lot of what I know, and I haven't even scratched the surface. I learn new things every day. I just wish I had access to the kinds of information and people that he has. That's ok, he can't put his whole hedge fund in DELL like I have been known to do!

To: PaperChase who wrote (683)	9/2/1998 11:50:00 AM
From: WhipsawMcGraw	Read Replies (1) \| Respond to of 1254

You must understand that Cramer is a hedge fund manager. Mutual funds cannot be short the market (usually.) Mutual funds cannot be is cash for more than a short period of time. The beauty of a hedge fund is that the manager can take a 70%-30% bear hedge and turn it to a 70%-30% bull hedge in one day. As a client of a hedge funds I rather see the ability to change as market conditions do. The market has lost the last three rallies it posted with the market coming lower each time. Dow down 299 Dow down 350 Dow down 514 (from the hip, not exact numbers) This after the market rallied for a short period of time. The short position in stocks is also at a record level which will always create buying in the market place for those covering. Cramer might be wrong but if he is the fund has the ability to capture the market at that moment. If Cramer is a bear and comes out that he is changing bull, god bless him. He voices his opinion and he is not ashamed of being wrong. Most traders are wrong 80% of the time but what they do with the 20% is what makes them either good or bad trader/fund managers.