http://sadguysontradingfloors.tumblr.com/

Nm

Older player at the table today said he dumped GE this morning cause it was down 25% on him.

I want my Dow 9000 hat...wait I mean 8500..

The people selling are smart to do so, this is going way lower. so much bad news ahead, earnings reports, job losses, bankruptcies, failed pensions, scandals, poor govt decisions, etc...

You are gonna be waiting a long time for a substantial rally, at least 5 yrs.

http://www.amazon.com/Dow-2008-Diffe.../dp/1893958701

Once everyone is talking like you, and none of my friends are talking about jumping back in, then I'll jump back in. Not there yet.

Whoops

Only 2 left in stock--order soon (more on the way).

Resist temptation to buy. Must resist.

I raise:

I'm glad I didn't use Cramer as a reverse indicator this time. I guess that blind squirrel/acorn theory still holds.

Grimmstar PT shot in the background?

The thread in BBV about Grimmstar's PT graph to the Dow is kinda funny how close the ups and downs swing together...the graph there doesn't look like it.

He told everyone to get out when the market was already down 30%, the fact that it went down another 10% doesn't yet make him a genius seer.

I think the S&P dividend yield has to be over 3% now. Getting out now would be like selling GE at a 9 PE.

Actually, it's nearly 20%, in 4 days. I think you've got to give him some credit this time.

Even a broken watch is right twice a day. As others have pointed out, the statement in the title of this thread is at best obvious because no one who should have any money that they need in the next 5 years in the stock market to begin with, regardless of market conditions, and at worst idiotic if he is implying that are actually times when it is okay to have money that you need in the next 5 years in the stock market.

On the 6th the S&P 500 closed around 1050. 909 is less than 15% decline since then. It peaked at 1576 one year ago. 1050 is more than a 30% from the peak. 909 is less than a 10% farther decline from the peak, Cramer so far had his viewers take almost 80% of the decline before he told them to get out.

I give him the same credit I give a stopped clock, both are only right twice a cycle. He was whoring financial stocks all year, and whoring stock ownership throughout the vast majority of the decline. Then suddenly he warns everyone to get out when it's the cheapest market in 25 years. The passive investor has not seen such potential for good long term returns since the early 80s.

Not gonna happen. He's hated on these forums. Some have valid reasons, others don't. He has for a year said to stay away from casino stocks.. No one comments on that. He has horribly stuck with banks, specifically investment banks while they underperformed horribly. His job is to entertain, anyone using his advice as anything other than that is making a big mistake. Easier to blame him than ones self I guess.

I was going by open on Mon since Cramer made his statement premarket I believe.

Dow 10/6 open : 10322
Dow 10/9 close: 8579

-17% approx.

Edit: but what should be emphasized is it happened in 4 days, not 4 months.

We are both getting a little nitty, but using the close (since Cramer didn't know what the Dow was opening at if his show was pre market)...

Dow 10/12/07 14,093
Dow 10/03/08 10,325 -26.7%
Dow 10/09/08 8579 -39.1%

So on the Dow index, he told people to get out after nearly a 27% loss, but saved them another 12.4% loss from that peak. Again, he advised people to stay in for 68% of the losses so far, measured by one very narrow index that isn't as representative of the market as the S&P 500, or other even larger indexes. He did worse on the S&P.

And again, he's now an entertainer. He has no idea what is going to happen next. Back in his hedge fund days in the bubble he could spend days, weeks, months, analysing a single stock in depth, plus he had the advantage of being able to get on CNBC and tout his favorites so he could take quick profits, or bash some stocks he was short in so they'd dive. But he has no influence or real insight on the market as a whole. His analysis today is trivial and nanometers deep. That's not his job anymore, he's there to pull ratings by keeping people entertained.

Isn't the advice in the thread title essentially true at any time?

ok everbody thats saying this is grand advice that follows at all times are absolutely correct and give themselves a nice pat on the back for being right here and being right all along with their wise and conservative approach to investing. Congrats. I mean every poker player has a 20BI BR for their poker playing correct? or does about 5% of the poker world have 20BI BR? if you want to blab the most obvious response just becaue its correct and everybody knows it congrats. If you want to bet $1 against $1 for every person that actually follows your guidlines then we can talk.

I personally prefer the people that take the OP offtopic or even give stupid comments than the people whom echo the same obv answer that a dozen folks before them did. This isn't second grade if your post is so obvious it need not be posted...well then don't post.

When pretty much everybody is worried about 30% unemployment, out of control inflation, and the stock market going to zero, then you're going to think you are going to need 100% of your money in the next 5 years because people are worried about another great depression they are so deep in fear. So saying it is common sense is incorrect in a time like this. It spreads fear which justified or not is not common sense.

im no stock market guru but all i heard outta him forever was buy buy buy (bear sterns lol) and now we're supposed to give him credit?

S and P at 900? Is this 1997?