July 15, 2008

Memories, sweetened thru the ages just like wine

Watching this again, knowing what we know now, is actually pretty interesting... Plus it's just really funny.

Meanwhile, the VIX coming up again on a 5-year high. Bearish sentiment is everywhere. Blood in the streets. Banks are failing.

Time to buy? Or would that be nuts?


mickeyc said...

Deflation = Asset Prices Down!

Houses down

Stocks down

Where is the burning need to catch the bottom? The bottom will be very long and slow.

The VIX has been significantly higher 3 times in the last year. Are you doing your own research or is someone telling you this?

The stocks you are holding will not bounce back. If you are very lucky we will see one more bounce before a very significant down leg.

I've been short for a year and my money is leaving my broker now because I do not trust their survival.

We are in a capital preservation stage for anyone that is paying attention.









Anonymous said...

Very Sick Man. He should be under a 72 hour psych watch AT LEAST.

Saw/Heard him recently, looks like they have sedated him pretty heavily.

I bet he has heart/stroke attack by fall.


Anonymous said...


Jim Cramer in the movies.

Anonymous said...

Why is this man whinning in TV? Why is he calling for government intervention? Isn´t that what communist regimes are accused of doing? Isn´t the invisible hand great and effective? Just got to love neo liberalism capitalists... Private profits, public losses... way to go...

keith said...

GM just suspended its dividend, first time since 1922

Bankruptcy next.

And no, they're not too big to fail (anymore)

Anonymous said...


Wall Street Wacko said...

Jim Cramer is a total knucklehead. Take that to the bank.

Anonymous said...

never gets old.........

Anonymous said...

never gets old.........

magic 8 ball said...

It would be a great time to buy except for the appearance of a...BLACK SWAN!!!

Anonymous said...

I wouldn't touch the shit right before op ex. Maybe some cheap contracts but nothing serious.

Anonymous said...

Thru Sharebuilder, Dollar cost average into B Shares of Berkshire Hathaway - a little at at time.

Just an idea.

brokersleaveyoubroke said...

A few months ago someone here predicted DOW 7000. He was severly ridiculed, probably by DOPES. When he made that prediction we were at 13,000. Now we're below 10,000 which is more then half way down to 7K. Dow 7000 doesn't seem so crazy now.

Anonymous said...

Crammer was on a Political channel last night . His point was that the
people are crazy if they think that we can lower taxes . Crammer in essence said that we are going to need to raise taxes to bail out the banks . The host of the shows started laughing and changing the subject .
Funny how most of the world is so stupid that they think that they will have options on not raising taxes ,while at the same time Paulson and the Feds want "blank checks " from the taxpayers to do there dirty little bail-outs .But ,Paulson doesn't want to say how much will be needed because a "blank check" will restore confidence . Isn't everyone getting sick of one bail out after another .

sanitystream said...

Cramer's latest (7/15/08):

The Danger Is Immense

"You don't need me to tell you it's awful out there. You don't need me to tell you that there's no quick fix for any of these things. But what might help you understand why it feels so bad this time is that I have never, in my career, seen so many companies go off track at the same time. This is one unbelievable moment, and it is made more horrible by the day as companies' stocks just get pummeled, causing people to then question the very viability of the companies involved."

At the end of the article, he wraps up by saying:

"Someone asked me yesterday, "When do we bottom?" I said it wouldn't be until all the banks that have to fail do so and GM files bankruptcy along with Ford. I said it matter-of-factly, because I meant it and because it is obvious."


Anonymous said...

She is so fine, Kramer who's he?

Anonymous said...

I must have missed the video, from a few years back, of Cramer screaming for the CEOs of these companies to share their multi-million dollar stock options with us peasants, while they were recklessly running their companies into the ground.

I checked my mail again today, but still no check....

Anonymous said...

Cramer: Ben please bail out yours and my banker buddies even though they ran their companies into the ground. and everyone else is screwed because of it. But pls bail them out, they're losing their jobs. k thanks. good job.

Anonymous said...

What an asshole (Jim Cramer)

As goes GM, so goes the nation. Oh shit.

Russ DoGG said...

Blood in the streets / The doors "Peace Frog" would be appropriate:

Ron Paul - The Peace Frog

The Doors - Peace Frog Remix

Russ DoGG said...

fofr more about GM you could see:

GM Death watch column at

Anonymous said...

seems like he actually thought that the Fed lowering the discount rate would lower mortgage rates?

(Pssst, it's called a risk premium)

i give him less credit everytime he opens his mouth

Anonymous said...

"we have armageddon"

Jim you haven't seen nothin' yet.

Anonymous said...

I'm cautiously long via fairly short-term calls and will buy more as we drop. Important expiration this week. If it stays down, it will be the first 2 months in a row down expiration week in recent memory. I'm still thinking rally this week but it seems hard to imagine from the doom & gloom. Bennie needs to come up with some good trick. Remember the surprise rate cut day before expiration in, what, Oct or Nov 2007? That killed the expiration shorts for 300 pts on open. Maybe a surprise 50bp cut on Thu/Fri this week? What else will work at this point?

Certainly the market will tank again, but there has to be a bounce as the short-term downside run has been too long by historical standards.

As it rallies, start buying LEAPS puts.

Adam SlowHand Smith said...

Speaking of Wall Street shenanigans, I'm surprised no one here has mentioned the recent SEC policy changes this week, with the SEC attempting to prop up financial institutions like Fannie and Freddie (and 17 others) by making it more difficult and costly to short financial companies (i.e. trying to discourage "naked" shorts).

It had it's intended effect: after SKF (the ETF that tracks the downside of the financial index) jumped to all-time record highs earlier in the week, the SEC announcement came out and SKF plummeted within a day. UYG rallied, and gained an incredible amount within a few days, only to slightly correct Thursday and Friday. With all the uncertainty, investors are afraid to short stocks of financials.

All of which strikes me as the height of irony:

Remember, Goldman Sucks was hailed as the smartest guys on Wall St. since they were SHORTING the mortgage companies who had all the bad assets on their books, knowing they'd tank when the news of the crisis became public knowledge. IN FACT, they were shorting stock out of the back office EVEN WHILE their front office was selling and recommending the same stocks to the public! How slimy is that?

If there's one thing Wall St. respects, it's making $$$: ethical concerns swept aside, and most traders see GS as Gods who not only ducked the bullet, but profited from it!

So shorting financial stocks was OK then for them, but now that firms like GS have made their $$$, it's not OK any longer?

Besides, the SEC is acting like the shorts caused this mess: uh, the firms THEMSELVES committed financial suicide by lowering lending standards to give $$$ to anyone who said "pretty-please", with no verification of their willingness or ability to actually re-pay!!! The greed of these lenders blinded them from prudent lending decisions, and now they're going to pay.

Don't blame the short-sellers, who in many cases are trying to re-coup from the damage and losses these same firms have inflicted on the short-sellers stock portfolio.