tagryn: Owl icon (Default)
More for my own reference than anything else: Jim "Mad Money" Cramer called the stock market bottom on July 23rd:
“I am indeed sticking my neck out right here, right now,” Cramer continued, “declaring emphatically that I believe the market will not revisit the panicked lows it hit on July 15. And I think anyone out there who’s waiting for that low to be breached is in for a big disappointment, and [they’re] missing a great deal of upside.”

“Stop waiting,” he said, and “buy the next dip because I think it might be the last big one.”

The DOW was at 11,632 on July 23rd. It closed yesterday at 7,552, a loss of 35% in total value since Cramer's "bottom" call.

Also on that note: Rand Simberg on how the bailouts may actually be making things worse by injecting uncertainty into the market about what the government is going to do next. The ad-hoc nature of the bailouts - AIG gets one, Lehman Brothers doesn't, Fanny/Freddie Mac gets one, the automakers don't (or will they?) - where the standards are fluid, basically at Paulson's will, is the main problem as I read it. The ripple effect of the bailouts themselves are too complex for me to provide a reasoned analysis over, and I'm skeptical of anyone who says they fully understand how exactly everything is interacting at this point, either. I see it as being like a bay after a tsunami hits: extremely chaotic, with no idea from what direction the water's going to come next.

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tagryn: Owl icon (Default)
tagryn

May 2017

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