| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 12/2/2004
Posts: 1,775
|
Glad I'm not a zombied-out Cramer sycophant else I would have loaded up on it 3/6 when he said about RVBD on Mad Money, "could be the next Cisco." It's down about 20% or so since that call. Before yesterday's plunge it was setting up nicely in a 3 mo. lateral base, but I think smarter traders using charts and technicals would have held off putting on a big position right after the Cramer call, instead waiting for a buy signal on a breakout above that 3 mo. resistance. Now I think it looks like a short candidate, as the well defined 3 mo. support has been pierced on high volume. And look at all that open space below...support hard to find, the nearest maybe 6 pts. below around 20 something. Ya think?
|
|
Registered User
Joined: 4/18/2005
Posts: 4,090
|
I see a tad around $18.ish and then the IPO price. It seems to me that most IPOs now will have a run up and then crash. I don't trade them till they have made a base... or atleast I don't hold them for more then a few days. As far as Cramer goes I have made my best money off of him counter trading his advice. He dosent make sense to me... he is way to emotional for me to take seriously. Secondly he is a talking head radio show and gives advice to people who know so little it is disturbing. Most of the calls I hear are lost sheep looking for someone to tell them what to buy, or they are holding and hopeing on something that has crashed and taken thousands out of their accounts. And generally his advice is to stay the course. That is great for long term investors but I believe that if you want to make money short term you need a splan for the stock and if it dosen't perform then get out quick as possible.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
Well said. Amazing that he never mentions or advises using charts as a guide for entries/exits, it's all aobut buying stocks via ideas, hunches, stories, never because price just spiked on heavy volume out of a sound base for example. But I watch it on occasion, like watching a train wreck:)
|
|
Registered User
Joined: 4/18/2005
Posts: 4,090
|
I feel bad for the poor people ...... not bad enough not to sell short on his buy recomendation. In all truth I have only done that twice.. I tried buying on his news twice also, both times I took a hit. they played it on the radio where I used to work so I was a captive audience. I don't recall the security but one time i remember a recomandation coming out for a stock that was on my watch list ... I think for short watch but I was amazed at what I was hearing. As I recal it had over extended all over it and he was pumping it.
|
|
Registered User
Joined: 11/3/2004
Posts: 39
|
I think it helps to keep perspective on Cramer and what his job really is. His job, or his shows job, is to sell advertising space for the network. Commercial TV exists for/because of the commercials. Cramer will stay on the air as long as his ratings are strong and thus his add rates are high. How he keeps/builds an audience? Well, that's the big question in the TV biz.
That being said, I've benefitted from Cramer's advice. Not directly but as a side benefit. I've found myself in several positions before Cramer found them and have benefitted from his pump.
One interesting thing he published is his cyclical chart, for lack of a better term. Next time you're in a bookstore, look in his Real Money book for it.
|
|
|
Guest-1 |