Wow - DOW 10,000 again

[cute fuzzy bunny]

I had been wondering the exact same thing. You've made a very valid point!

Eh, we'll be making the same jokes again by the end of 2009.

 

[al_bundy]

Did I miss the sarcasm? Or are you suggesting that 1) he's claiming that he identified the bottom in 87 and 98, and 2) that past performance is a guarantee of future results?

when cramer is scared and tells you to get out, that's probably a good indication of a bottom

1987 he just started his hedge fund right before the crash and almost closed it there

1998 he was losing a lot of money and he used to blog back then on thestreet.com. at the bottom he blogged "get out, get out now" and 10 minutes later the market turns around.

yesterday he tells everyone to pull money out now. not just to move a bit to cash, but to pull everything out.

 

[HFWR]

DOW [-]14000[/-] [-]13000[/-] [-]12000[/-] [-]11000[/-] [-]10000[/-] [-]9000[/-] 8000...

yesterday he tells everyone to pull money out now. not just to move a bit to cash, but to pull everything out.

I didn't pull it all out. Just enough to win the turkey...

 

[John23]

Not sure it means anything, but it is a little scary.

The Dow first cracked 100 in 1916. It didn't permanently stay above 100 until 1938.

The Dow first cracked 1000 in 1972 (and was as high as 995 in 1966). It didn't permanently hold 1000 until 1982.

The Dow first cracked 10,000 in 1999. And now, nearly a decade later, it's back under 10,000.

The round numbers seem like they should just be symbolic, but for some reason, the market has historically had a terrible time holding the milestones.

The fact that they're round numbers is somewhat symbolic. But it shows the market got over extended/over valued, and it took a long time to work off the excesses.

The DOW went straight up in the 50's to the mid 60's high of abotu 1,000.

The DOW in the 80's and 90's went almost straight up from 1,000 to 10,000, with a few corrections along the way.

I don't like saying it, but I think in 2018, 2020, the market may still bob around 10,000. Maybe much later...2025? The 80's and 90's bubble was so huge.

 

[John23]

when cramer is scared and tells you to get out, that's probably a good indication of a bottom

1987 he just started his hedge fund right before the crash and almost closed it there

1998 he was losing a lot of money and he used to blog back then on thestreet.com. at the bottom he blogged "get out, get out now" and 10 minutes later the market turns around.

yesterday he tells everyone to pull money out now. not just to move a bit to cash, but to pull everything out.

Cramer is a joke. The fact that he's still on tv....why would anyone listen to him or take him seriously?

I remember the 98 to 00 period (I use to watch CNBC and actually believe it...scary!). And watch Fox News.

-Took thestreet.com public in the 90's mania. look where that went.

-I remember when he first started "Actions Alert Plus". A bunch of stocks like EMC, just craziness. And a bunch of symbols no one remembers anymore...JDSU? Just don't sell us.

-His infamous 98 bottom call.

Basically a guy that rode the 80's and 90's bull market. He's never seen a real bear market. Screams sell at the bottom.

Funny CNBC never tells you about his past calls....

 

[ziggy29]

-Took thestreet.com public in the 90's mania. look where that went.

Hey, it was at the height of the dot-com mania. I had access to 100 shares of the IPO at 19. Flipped it later that first day for 61. Easiest money I never earned.