10 replies to this topic

[S.I.M.O.N.]

chart is on my blog
http://fibo-count.blogspot.com/

If true, this mkt is beyond diabolical...

[fib_1618]

Alternately, how about from the mid November top until end December you have a wave "A" zig zag, an irregular flat "B" wave to the Tuesday top (it smelled), and now in wave "C" down for a still higher degree irregular flat? Don't you love Elliott? Fib

[eminimee]

come on guys...let's try and make it more complicated than that....but quite frankly....I'll stick with my oex. If Cramer hadn't said to sell tech last night....I would bet the top is unquestionally in......but now I'm wondering...by the way ..if a higher high is needed....it would probably be in two waves...not just the one shown here.

http://stockcharts.com/c-sc/sc?s=$NDX&p=D&yr=1&mn=2&dy=0&i=p04436531130&a=79222312&r=3386.png

[dcengr]

Yah the cramer thing really really threw me off. The man is such a good fade that it made me cover my NDX shorts a bit early today. But I started thinking about this, and he came on TV today and talked a bit more about it. You see, a while back, Goldman Sachs started to bag on techs, and he poo poo'ed them. He told everyone to buy techs, and how much heat the GS analyst was gonna take, etc etc. I think Cramer now sees the light that techs are in real trouble, and GS was right. So he's not making this judgement based on his ability, he's seeing the light finally from the GS analyst who correctly made this call. You will recall that GS said dump AMD and a host of other techs, especially semis. They were right on the nose with that call. And their own internal hedge fund is very short the US market right now (and under 10% loss as of december). So even though I think there will be some game play to get the cramerites a bit of heat, I think Cramer's call wasn't from his usual moronicness, but as before, him "seeing the light" when predictions of someone who can really analyze is starting to unfold. Cramer maybe untalented, but he's not stupid.

[IndexTrader]

Who said Cramer was untalented? Sounds like someone completely unacquainted with the facts. IT

[fib_1618]

let's try and make it more complicated than that

Don't tempt me.

Who said Cramer was untalented?

I found the comment rather crass as well.

Cramer may or may not be many things, but from what I've seen of him on a limited basis, he's one of the more knowledgeable fundamentalists in the business and very entertaining. Above all else, many who watch him have made a lot of money with this same knowledge - especially those who used technical analysis in relation to this same fundamental information being given day in and day out.

Fib

[arbman]

1250k fresh puts opened today and only 450k calls, 800k net calls declining in the open interest, 16.7M net calls. The open interest was modestly increasing to this far to 17.5M net calls since last week, today it had an abrupt U-turn. In any case with almost 3:1 change in the OI based P/C in the fresh positions, you would think there will be some sort of good volatility...

[no_mind]

Maybe Mr. C simply saw this chart which I picked off of Kevin's Market Blog. Scroll down to read his comments at his site.

[eminimee]

Let me be clear when I mentioned Cramer...I wasn't concerned because of his talent or implying that he was a good fade.....I merely meant that it may help to set up a short squeeze but I have no idea how big his flock is.....getting bigger I presume.

[Rightfield]

Let me be clear when I mentioned Cramer...I wasn't concerned because of his talent or implying that he was a good fade.....I merely meant that it may help to set up a short squeeze but I have no idea how big his flock is.....getting bigger I presume.

The thing to consider about Cramer is his unprecedented reach to the public and therefore the power to move markets status which he currently enjoys...generally speaking such saturated exposure to the public in the past built a good public consensus and was ultimately a good fade..... he is on CNBC at 6, 9, and at midnight everyday...additonally he makes periodic appearances throughout the trading day with a fixed appearnace, just for good measure, at 2:40 pm with a market comment pumping or dumping a favorite stock....imo, this unprecedented power makes him not just simply a harmless entertaining clown, but a tool to move the markets in a certain way which potentially can favor a special group of interests...recall there were unresolved charges of impropreties leveled against him in connection to his hedge fund activities when he first started out at the Kadlow/Cramer show.....

RF