flying Posted October 1, 2009 Share Posted October 1, 2009 (edited) Jim Cramer picks another winner CIT...BUY BUY BUY !!!!!!!!!!!!!!!!!! Next day 40% plunge http://www.streetinsider.com/Insiders+Blog...C)/4980734.html Edited October 1, 2009 by flying Link to comment Share on other sites More sharing options...
zorro1 Posted October 1, 2009 Author Share Posted October 1, 2009 link shows error. How long ago this happen? Link to comment Share on other sites More sharing options...
flying Posted October 1, 2009 Share Posted October 1, 2009 (edited) link shows error. How long ago this happen? It just happened...Yesterday he said Buy CTI Today it plunged. Here is the chart http://www.google.com/finance?q=CIT I dont know why but the link to street insider seems to get truncated or something Here is the article. Cramer Plays With Fire and Gets Burned (CIT, C) September 30, 2009 10:11 AM EDT Yesterday, market pundit Jim Cramer made a ridiculously awful call on embattled lender CIT (NYSE: CIT). Cramer made a call to buy CIT stock yesterday. Well today it is down 40% on reports a deal with bondholders will wipe out the current common shareholders. Here is what Cramer said on CIT yesterday. "Because no one forced CIT into bankruptcy, it can live to play again, and when I read in the New York Post that Paulson owns CIT debt, I realized that he's powerful enough to save this company, particularly because he is one of the investors in IndyMac and knows his way around the bottom of the debt barrel. These two stocks represent lottery tickets that are no longer rip-ups because they have made it out of the "critical care" stage and are recovering. I would buy them both." The other stock Cramer was talking about was Citigroup (NYSE: C). Citi is another volatile situation that most investors should not be involved with. It appears Mr. Cramer has not learned from past mistakes and is back to his old antics of going out on a limb on situations that he clearly doesn't understand. Due to Cramer's lack of caution and diligence, mom and pop investors are getting hurt Edited October 1, 2009 by flying Link to comment Share on other sites More sharing options...
lannarebirth Posted October 1, 2009 Share Posted October 1, 2009 Jim Cramer picks another winner CIT...BUY BUY BUY !!!!!!!!!!!!!!!!!! Next day 40% plunge http://www.streetinsider.com/Insiders+Blog...C)/4980734.html One might infer fom that that Cramer is stupid but he's not. Maybe his followers didn't get paid on that call but you can rest assured he did. Link to comment Share on other sites More sharing options...
badge Posted October 1, 2009 Share Posted October 1, 2009 [...]just remember the big money hasnt hit yet ... thats when you will be skating 300000000 kms down Source please? sure would love to but hel_l being frozen over at 300000000 kms down was just a guess Well then I'll be forgiven for assuming that no source = meaningless The reason I ask is its actually contrary to alot of information Im reading, so perhaps one of us has more significant figures, or erroneous data? Not to worry Link to comment Share on other sites More sharing options...
lannarebirth Posted October 1, 2009 Share Posted October 1, 2009 [...]just remember the big money hasnt hit yet ... thats when you will be skating 300000000 kms down Source please? sure would love to but hel_l being frozen over at 300000000 kms down was just a guess Well then I'll be forgiven for assuming that no source = meaningless The reason I ask is its actually contrary to alot of information Im reading, so perhaps one of us has more significant figures, or erroneous data? Not to worry No, I think it's true that the big money isn't in the stock market yet. The assumption however that it may be in at some time in the future is IMO erroneous. The people who didn't want their money in the market a year ago and instead chose the "safety" of CD's aren't going to be rushing back in afer a 50% plus rise IMO. Maybe on a substantial pullback which ought to align with favorable tax ramifications. Link to comment Share on other sites More sharing options...
zorro1 Posted October 1, 2009 Author Share Posted October 1, 2009 badge its pretty obvious trillions still on the side lines, not sure what you want me to do? I can google a hundred posts to confirm it but its common knowledge . this is new though today BBC suggesting we may be at the bottom, but of course the real players new the bottom was November Global economy expanding says IMF http://news.bbc.co.uk/2/hi/business/8284217.stm Link to comment Share on other sites More sharing options...
zorro1 Posted October 1, 2009 Author Share Posted October 1, 2009 link shows error. How long ago this happen? It just happened...Yesterday he said Buy CTI Today it plunged. Here is the chart http://www.google.com/finance?q=CIT I dont know why but the link to street insider seems to get truncated or something Here is the article. Cramer Plays With Fire and Gets Burned (CIT, C) September 30, 2009 10:11 AM EDT Yesterday, market pundit Jim Cramer made a ridiculously awful call on embattled lender CIT (NYSE: CIT). Cramer made a call to buy CIT stock yesterday. Well today it is down 40% on reports a deal with bondholders will wipe out the current common shareholders. Here is what Cramer said on CIT yesterday. "Because no one forced CIT into bankruptcy, it can live to play again, and when I read in the New York Post that Paulson owns CIT debt, I realized that he's powerful enough to save this company, particularly because he is one of the investors in IndyMac and knows his way around the bottom of the debt barrel. These two stocks represent lottery tickets that are no longer rip-ups because they have made it out of the "critical care" stage and are recovering. I would buy them both." The other stock Cramer was talking about was Citigroup (NYSE: C). Citi is another volatile situation that most investors should not be involved with. It appears Mr. Cramer has not learned from past mistakes and is back to his old antics of going out on a limb on situations that he clearly doesn't understand. Due to Cramer's lack of caution and diligence, mom and pop investors are getting hurt ouch! never ever ever touch a stock toying with b/rupcy no matter how big a bounce it may be. One of my first few trades was BNB and had a small punt just 6k$ the day before it went into receivership. many lost hundreds `of the thousands just that day alone Link to comment Share on other sites More sharing options...
Naam Posted October 1, 2009 Share Posted October 1, 2009 why mentioning that clown at all? Link to comment Share on other sites More sharing options...
zorro1 Posted October 1, 2009 Author Share Posted October 1, 2009 (edited) wonder what cnbc pay him for his segment. Would have to be upwards of a hundred K?? or is it a trade off for exposure Edited October 1, 2009 by zorro1 Link to comment Share on other sites More sharing options...
lannarebirth Posted October 1, 2009 Share Posted October 1, 2009 (edited) wonder what cnbc pay him for his segment. Would have to be upwards of a hundred K?? or is it a trade off for exposure CNBC pays him for his entertainment value and for viewers. He does it for the remuneration he gets from providing liquidity shilling for his hedge fund buddies to sell into. Edited October 1, 2009 by lannarebirth Link to comment Share on other sites More sharing options...
badge Posted October 1, 2009 Share Posted October 1, 2009 badge its pretty obvious trillions still on the side lines, not sure what you want me to do? I can google a hundred posts to confirm it but its common knowledge . Again, its not only 'not-obvious' to me, its contrary to what Im reading, hence my request for sources. Further inability to provide sources, but claiming its 'obvious', is on par with your last response. For example, I read that the Aug US mutual fund($10Trillion) cash-to-asset ratio is at 4%, just up from the all time low of 3.5% in Jul '07. Source: ICI. I havent checked this though. I keep reading how much money is on the sidelines, yet no one seems to be able to provide details. One of the common errors Ive been quoted, is looking at asset values of a couple of years ago, compared to today, and assuming that 'obviously' the difference is waiting on the sidelines, when infact its simply vanished. Wealth destruction. Link to comment Share on other sites More sharing options...
badge Posted October 1, 2009 Share Posted October 1, 2009 Incidentally the IMF downgraded global growth in March, the turning point in financial markets. Lets see if theyre as useful a contra-indicator this time around Link to comment Share on other sites More sharing options...
badge Posted October 1, 2009 Share Posted October 1, 2009 No, I think it's true that the big money isn't in the stock market yet. Why, what makes you think that? Link to comment Share on other sites More sharing options...
lannarebirth Posted October 1, 2009 Share Posted October 1, 2009 badge its pretty obvious trillions still on the side lines, not sure what you want me to do? I can google a hundred posts to confirm it but its common knowledge . Again, its not only 'not-obvious' to me, its contrary to what Im reading, hence my request for sources. Further inability to provide sources, but claiming its 'obvious', is on par with your last response. For example, I read that the Aug US mutual fund($10Trillion) cash-to-asset ratio is at 4%, just up from the all time low of 3.5% in Jul '07. Source: ICI. I havent checked this though. I keep reading how much money is on the sidelines, yet no one seems to be able to provide details. One of the common errors Ive been quoted, is looking at asset values of a couple of years ago, compared to today, and assuming that 'obviously' the difference is waiting on the sidelines, when infact its simply vanished. Wealth destruction. Ah, it's gone to money heaven. Some truth in that and also some money has left the market because it's no place for retiring baby boomers to have all their eggs. Link to comment Share on other sites More sharing options...
lannarebirth Posted October 1, 2009 Share Posted October 1, 2009 No, I think it's true that the big money isn't in the stock market yet. Why, what makes you think that? Because of all the money that's going into bonds and CD's. I didn't say I thought it ever would get into the stock market. In fact I think it probably never will. Not anytime soon anyway. Link to comment Share on other sites More sharing options...
badge Posted October 1, 2009 Share Posted October 1, 2009 No, I think it's true that the big money isn't in the stock market yet. Why, what makes you think that? Because of all the money that's going into bonds and CD's. I didn't say I thought it ever would get into the stock market. In fact I think it probably never will. Not anytime soon anyway. Yes I saw you didnt think it would likely go into equities. What is 'all the money going into bonds and CD's' though? Where are the stats? You dont mean the QE do you? Link to comment Share on other sites More sharing options...
lannarebirth Posted October 1, 2009 Share Posted October 1, 2009 No, I think it's true that the big money isn't in the stock market yet. Why, what makes you think that? Because of all the money that's going into bonds and CD's. I didn't say I thought it ever would get into the stock market. In fact I think it probably never will. Not anytime soon anyway. Yes I saw you didnt think it would likely go into equities. What is 'all the money going into bonds and CD's' though? Where are the stats? You dont mean the QE do you? I guess it depends on what you mean by "sideline money". I'm speaking of the pool of available capital, though not including QE. If you're talking about funds in brokerage accounts I can only speak anecdotally. For myself, I realized I had far more in my brokerage account than I need to do what I do. Pulled 500k out last year. Spread the rest through a few new accounts to be under insured levels. I know many many people who did the same. I never ever add to my brokerage accounts. I only withdraw profits to move elsewhere. Link to comment Share on other sites More sharing options...
flying Posted October 1, 2009 Share Posted October 1, 2009 wonder what cnbc pay him for his segment. Would have to be upwards of a hundred K?? or is it a trade off for exposure CNBC pays him for his entertainment value and for viewers. He does it for the remuneration he gets from providing liquidity shilling for his hedge fund buddies to sell into. Most who know his past know he is a shill but many also blindly follow him. He not only has his show but is also consulted every morning on CNBC by Erin Burnett. Sad but true Link to comment Share on other sites More sharing options...
Abrak Posted October 1, 2009 Share Posted October 1, 2009 BTW we are now in October. Supposedly this is an ok to good month for the market in the US. It is the second worst month in Thailand after November. The 'good' performance (over the last 70 years) might be a surprise to many. October is best remembered for its horrors - 4 out of 5 of the worst percentage falls in the Dow over the last 100 years have happened in October. 8 out of 9 of the worst percentage falls in the FTSE 100 have happened in October (the FTSE 100 is less than 30 years old). But averaged out say the Dow has been positive unlike September. Link to comment Share on other sites More sharing options...
flying Posted October 1, 2009 Share Posted October 1, 2009 (edited) BTW we are now in October. Supposedly this is an ok to good month for the market in the US. I have a feeling the waterfall the US markets are approaching will leave a mark this Oct. Edited October 1, 2009 by flying Link to comment Share on other sites More sharing options...
zorro1 Posted October 1, 2009 Author Share Posted October 1, 2009 (edited) BTW we are now in October. Supposedly this is an ok to good month for the market in the US. I have a feeling the waterfall the US markets are approaching will leave a mark this Oct. tomorrow may hurt ,ouch!!! 6 stocks and 1 in trading halt. 1 will be spared but will open Monday so better be good news. How do we short the dow again flying? just kidding , a few down days after 10 months of gains and the world falling apart, will sell some on open and by them back cheap in auction Edited October 1, 2009 by zorro1 Link to comment Share on other sites More sharing options...
flying Posted October 1, 2009 Share Posted October 1, 2009 How do we short the dow again flying? just kidding , a few down days after 10 months of gains and the world falling apart, will sell some on open and by them back cheap in auction I may be wrong but I thought you always told Midas you would ride it up & down? In any case good luck & be sure to keep a lock on those 10 months of profits I think a lot of folks having made money in the 50% retrace will think the same & lose it all back as they continually buy back into the fall thinking it is cheap again & will ride it back up. Link to comment Share on other sites More sharing options...
Abrak Posted October 1, 2009 Share Posted October 1, 2009 BTW we are now in October. Supposedly this is an ok to good month for the market in the US. I have a feeling the waterfall the US markets are approaching will leave a mark this Oct. Flying actually that was vaguely my point. If you look at the top of the market in either 1999 (11,497) or 2007 (14,093) - the two most recent peaks in the last 20 years you will see they happened at the beginning of October. (And if you want to go back further just remember October 19th 1987). So as you say October may well leave its mark as it has before. You know October sticks in my mind as being the month to be most cautious, but September is the worse performing month. Link to comment Share on other sites More sharing options...
zorro1 Posted October 1, 2009 Author Share Posted October 1, 2009 How do we short the dow again flying? just kidding , a few down days after 10 months of gains and the world falling apart, will sell some on open and by them back cheap in auction I may be wrong but I thought you always told Midas you would ride it up & down? In any case good luck & be sure to keep a lock on those 10 months of profits I think a lot of folks having made money in the 50% retrace will think the same & lose it all back as they continually buy back into the fall thinking it is cheap again & will ride it back up. 'I thought you always told Midas you would ride it up & down?' noooo way never ever said that I got the bottom and not going to blow it now. Having said that I believe we will trade side ways for a few weeks and I will sell only about 15% of some stock on open tomorrow. Im still super bullish just think about it? 10 months of gains why would i dump now? no way, most of my stuff is cashed up after cap raising so lets ride it out for October. The markets wont fall off a cliff in the next 4 weeks , patience the hardest lesson of all Link to comment Share on other sites More sharing options...
teletiger Posted October 1, 2009 Share Posted October 1, 2009 (edited) The markets wont fall off a cliff in the next 4 weeks , patience the hardest lesson of all Are you Cramer in disguise? Regards. Edit: I was emboldened. So are you now. Edited October 1, 2009 by teletiger Link to comment Share on other sites More sharing options...
flying Posted October 1, 2009 Share Posted October 1, 2009 noooo way never ever said that Reading back I see maybe you were joking... But I did remember something along those lines & thought you traded both ways. Then I may short the market on the way down and keep making money but lets see if we get to 10000 and hold it first Midas I have a plan. Unlike your self I have done well on the way up and will do well on the way down Link to comment Share on other sites More sharing options...
flying Posted October 1, 2009 Share Posted October 1, 2009 (edited) Some running for the exit at closing 4 minutes left will DOW go -200? Edited October 1, 2009 by flying Link to comment Share on other sites More sharing options...
zorro1 Posted October 2, 2009 Author Share Posted October 2, 2009 noooo way never ever said that Reading back I see maybe you were joking... But I did remember something along those lines & thought you traded both ways. Then I may short the market on the way down and keep making money but lets see if we get to 10000 and hold it first Midas I have a plan. Unlike your self I have done well on the way up and will do well on the way down nah just have the option to short if I want to so really cant lose. Not ready to short yet, big difference between market correction and GFC 2 portfolio down 1.45% today ,been down more than that when dow has been 130+ Im expecting possibly 2 more down days. LUV watching CNBC again , how do we go from recovery to were back in a deep depression in 3 days? That cracks me up great entertainment and I see kramer made no mention of his hot tip Link to comment Share on other sites More sharing options...
zorro1 Posted October 2, 2009 Author Share Posted October 2, 2009 BTW we are now in October. Supposedly this is an ok to good month for the market in the US. I have a feeling the waterfall the US markets are approaching will leave a mark this Oct. Flying actually that was vaguely my point. If you look at the top of the market in either 1999 (11,497) or 2007 (14,093) - the two most recent peaks in the last 20 years you will see they happened at the beginning of October. (And if you want to go back further just remember October 19th 1987). So as you say October may well leave its mark as it has before. You know October sticks in my mind as being the month to be most cautious, but September is the worse performing month. 100% correct re October and September. I can tell you there was lots of heavy dumping today A lot of burnt holders without the stomach for risk 2nd time around. A lot of buying as well new bulls bargain hunting. Personally I mostly buy on the worst of the dow days and did today. fear=bargains so far anyway lets see how the next week pans out Link to comment Share on other sites More sharing options...
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