Michael Covel

Sharrieff Added:

October 6th, 2008 at 2:28 pm

Well, first I am shocked to hear anyone from MSNBC, CNBC, or Fox say anything to help people financially in the US today! I had been following the Washington Mutual situation weeks before it collapsed and changed my bank to a safe box under the bed. Before it was seized! I think Gramer will probably get reprimanded or at worst made to retract/apologize for that statement. He is right in my opinion, yet what the hell have they been saying years before. How come there wasn’t a big hoopla when the Bush Administration increased the federal deficit level right before the war? Next Fox will really shock us and say “the only major tools needed to balance your home budget is a calculator and a calender.”

Sandy Added:

October 6th, 2008 at 4:34 pm

this may in fact mark the bottom, or something very close to it. recall he went “all in” in mid june, now the market is down 25% from there, and NOW he thinks there is risk to the market.

BamaPete Added:

October 6th, 2008 at 6:32 pm

Unbelievable that NBC keeps that clown around. This is the same genius who called a market bottom on the Mad Money tv show in July! His investing philosophy is the antithesis of trend following; Cramer is the poster boy for averaging down. I know first hand. At height of dot.com bubble I subscribed to his Action Alerts service and I remember well his emails ordering me to buy Conexant(CNXT) several times as it dropped and dropped and dropped. Yes, his email would suggest to his subscribers that they “MUST” buy CNXT at so and so level. His first buy call of CNXT for his readers was in the mid teens (pre recent 1 for 10 reverse split), and he pumped it to his subscribers all the way down to about .50! It later rallied somewhat and I still remember his chest thumping on his website in which be bragged about buying at .50. I could go on, thanks for letting me vent.

Jake Andrews Added:

October 6th, 2008 at 7:03 pm

Now that he says get your money out of the market, will they finally cancel his fucking show?

George Added:

October 7th, 2008 at 10:07 am

If people obey Jim’s advice, it will be positive for trend followers. What he says helps us to make money! If people pull their money out as he advises, the market could fall much faster and further.

I remember reading that such mad mob psychology benefits trend followers who have historically been on the right side of the trends anyway. So, with that in mind, let everybody go nuts and obey Jim, we will get richer!

Trend followers should not hate Jim but rather compliment him for what he does! He is every trend followers friend because he helps to either create them or increase or prolong them. So, why do most trend followers hate Jim?

Ken - Todays Breakout Stocks Added:

October 7th, 2008 at 11:13 am

There’s a million reasons why trend followers hate Jim but the main one is that he almost always advises people to trade AGAINST the trend and try to pick tops and bottoms, i.e. gamble! His crappy performance results are further proof of what a lousy strategy that is. This is the first time Ive ever heard him go with the trend.

Budfox Added:

October 7th, 2008 at 7:57 pm

Simply hilarious.

solfest Added:

October 7th, 2008 at 7:57 pm

I have not watched Cramer’s show for several years. Now I know why.

He should be drawn and quartered for idiotic statements like that. No wonder people panic.

Who would you rather take investment advice from, Warren Buffet or Cramer?

Buffet is buying, not selling.

Ken - Todays Breakout Stocks Added:

October 8th, 2008 at 12:04 pm

Buffett is buying because he’s being offered all kinds of sweetheart insider type deals that you or I could never get.

Will Added:

October 10th, 2008 at 9:22 am

Responding to a question about European investors:

“One thing is certain: they are in Europe.”

I think that’s the most astute thing I’ve ever heard Jim Cramer say.

James O. Rohrbach Added:

October 16th, 2008 at 9:12 am

The last thing we need is guys like Cramer going on TV telling people to sell. I am a Trend Follower and my subscribers have been in 100% cash since 9-15-08. But then, I do not have enough influence on the market to cause it to move on my Trend Signals. I am surprised that CNBC allows him to make these comments.

Rick Added:

October 16th, 2008 at 9:49 am

And yet there are some of us who continue to make money even when the market is down and going lower because of trend following techniques.

lakshmigauhri Added:

October 16th, 2008 at 12:24 pm

This is what we used to call in CBOT pit a FADE; useful to do the opposite of. So he says sell, after screaming buy buy buy for decade (doesn’t producer think his franchise might be overdone?) then maybe a good time to get in. No one can pick bottoms but wish for a new Pundit when there are so many better, he is hardly the guy to create confidence, what about the demand picture? Does this guy have a degree in anything?

Matthew Added:

October 16th, 2008 at 12:55 pm

Anyone who isn’t confused really doesn’t understand the situation.

Greg C Added:

October 16th, 2008 at 4:58 pm

To the Sandy below….you still have alot to learn. You think we may be close to a bottom just because we are 25% off the last predicted bottom? You are making the same mistake they did! Let the market tell you when the market bottom is. You need to follow the market, not tell it what to do.

taylor boyd Added:

October 17th, 2008 at 8:37 am

Intesting to note that whenever Cramer becomes a trend follower that generally marks a change in the prevailing trend. Remember his call for wheat at 16$. That marked the top.

Chuck Added:

October 17th, 2008 at 11:48 am

Even Cramer is sometimes correct. Stock market money should be long term money. (I’m talking investment savings and not active trading accounts, here.) I’ve been advising people to use a five-year cutoff for years. The market will fluctuate. Money that you might need sooner than five years shouldn’t be in the market.