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Friday,
March 20, 2009
(Cont'd from
above)...
Dow 6300... I think
it's not in the
cards right now.
But, after such a
big move in the Dow,
the prudent part of
my brain... is
telling me that
today's decline is
indeed for real...
and we could pause
in the market's
upward momentum, and
have a lot of
profit-taking into
the end of the
month, when we'll
probably have
markups.
Now, you don't want
to be working with
the clampdown. I
would much rather
have you working
against the
clampdown, or
escaping it
entirely.
Now, even after
today's miserable
action, you still
can take something
off the table, ring
the register... or,
in the parlance of
Cramer, "schnitzel"
some of your
gains... You may
still have enormous
losses in your
portfolio but, short
term, we've just
seen about a year's
worth of gains in a
couple of week's
time... Remember,
bulls make money,
bears make money,
hogs get
slaughtered. We saw
some of that
today...
Really. I have to
tell you... I'm
starting to feel a
little greedy if we
don't take some
profits...
We've all gotten way
too familiar with
the slaughterhouse
over the last 18
months... so let me
make the case for
moving some more
money onto the
sidelines... I say
this slowly, because
I've liked this
rally so much, I
really don't want to
part with it, but
we've really got to
put some money on
the sidelines. We've
got to wait for
stocks to be truly
viable again...
People have starting
to freak out about
inflation. Now, you
know how I feel. I
think it's a totally
bogus worry now. I
want inflation. I
want reflation. But
a lot of the big
money guys feel
different, with
Bernanke essentially
putting in a
trillion dollars to
get things back on
track. You know how
we feel about Ben
Bernanke... We think
he's dead right...
we think he's
learned so much...
we think he's an
unbelievably good
Fed chairman now.
We're backing him.
I say, let the
temporary insanity
about inflation
pass. If Ben
Bernanke's not
worried, I'm not
worried.
The bottom line...
▼ ▼
▼ ▼
▼
 The
Bottom Line!:
After today's
pullback, I still
think it's time to
ring the register. I
think the market
remains too
overbought, so take
some overbought. So
take some profits.
Take some profits so
that you'll have
some cash when the
market comes down,
and we can do some
buying all over
again.
[verbatim recap]
[end of segment]
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