Anybody here taking/took Cramer's advice yesterday?

[audreyh1]

Hey, Cramer said to start buying today (this morning 10:54 a.m. ET):

You Must Hold Your Nose and Buy

He says markets have hit his levels and that you must be doing some buying today.

Audrey

 

[cute fuzzy bunny]

So in other words he's like that ticket lady on the Southwest commercials whose head keeps spinning around and the two different faces say different things.

 

[audreyh1]

Cramer's strategy changes daily.

Audrey

 

[al_bundy]

when we get a rally from the lows like today it usually means a change in sentiment at least for a few months. especially on high volume like this. the fact that the dow and sp500 finished lower doesn't mean that much since both rocketed to positive territory but corrected a bit from the highs which is OK. only thing that bothers me is that we didn't have a lower low just before 2pm, but not sure how important this is in daily action.

similar happened in 1998. the worst day was sometime in september and even though the market closed down it was the turning point. next month was another volitile day but according to cramer not as scary as september

 

[Zoocat]

Well, he's an entertainer. That's his job. I have found him to be amusing these past months although I know he has lots of fans, how anyone could really take him seriously is beyond me.

Today he said in connection to having your five year stash, you won't be
"sipping that cheap whiskey while sitting on the dirty linoleum floor."

And about the Great Depression#2

"The sequel is always worse than the original."

And that he wants a back room deal (no more talking heads on TV) that government should guarantee all big banks and transactions and debts (!!)

"Bring out the nuclear weapons!"

He also recommended that people read Galbrieth's "Great Crash of 1929" to prepare themselves for the worst. Well, I'll pass on that one.

 

[Notmuchlonger]

I was watching him on the treadmill. Made me lose my concentration and I hit my emergency stop clip on accident. Great depression 2...

 

[Gone4Good]

Cramer's a moron.

I've got nothing to add to this.

 

[Gardnr]

Cramer's strategy changes daily.

Audrey

Nope, it remains the same.
-Say outrageous and attention-getting things at the top of your voice.
-Make sure you cover all possibilities in a short span of time so that you're right sometimes.
-Provide max entertainment and keep getting that big paycheck for doing so.

 

[audreyh1]

Well, you've got to give the guy his "They Know Nothing!" rant from over a year ago where he blasted Bernanke and Paulson for ignoring the subprime mortgage crisis and how it was going to turn into a huge financial disaster if they did not take some actions.

He was prescient about that!

Audrey

 

[Brat]

I have followed the 'Buckets of Money' advice and have 7 years of withdrawals in cash and cash =. This market isn't fun but we are in a position to sit it out. We don't need to sell anything.

My DD works for a VC so I asked her how this market might impact that industry. She said that major investors (such as pension funds and university endowments) will be adjusting their asset allocations and as a result their % allocated for VC investments will be larger than their target. VC investments may slow and firms with little track record may have difficulty raising money.

When I drooled at the number of bargains she said 'Don't do that', keep my allocation and let the mutual fund managers shop. I don't think they have much in reserve cash to go to the Wall Street Discount Mall, however.