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Cramer Calls Market "Stupid, Rapacious, Arbitrary, Capricious And Downright Ridiculous", Tells Viewers To Stay Out
After catching a few soundbites of Cramer's spiel today, we were stunned: for once theStreeter did not lose his marbles over an engineered, 20 handle, 200DMA breakout rally. Quite the opposite. In what is likely a first, the Mad Money host actually told his viewers it is time to get out of the market: "I am calling this a bad rally. This market has now become more depressing than Ethan Frome. Even the good days are now bad days. It's almost as if the whole market is caught between 1st base and 2nd base. So we get an endless rotating short squeeze in oil, in the banks, in tech, in discretionary.... But once the shorts are done getting picked off, we've got no more reason to run. It is a rally that stops that a blast of future selling comes in. It is a rally that stops the moment the buyers just walk away. We used to have fundamentally based rallies - that's not how this market works." The 10 minute rant against the market by the legendary permabull is simply shocking: he actually describes all the different dimensions in which the stock market is completely busted and discredited in a way that makes us jealous: "This market is stupid. And it is hated for a very good reason. The market seems rapacious, arbitrary, capricious and downright ridiculous. It is a tale told by an idiot, full of sound and fury, signifying nothing."
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I thought it was Michelle.
AMEN
oh shit, cramer is the ultimate contrarian indicator. if he says sell you BUY BUY BUY.
Cue the locusts
http://www.youtube.com/watch?v=VY0bsaDpYpY
Yes!
Sakes alive! First Harry Wagner now Jimbo? Can't wait for Cramer to join us and come on here. Just imagine his hair-on-fire avatar.
What hair?
on his butt
We already got one AssFire on here. That would make a double entendre?
Four years of market beatings and the asswipe just now gets it.
For some reason Cramer reminds me of this cartoon loop
http://shutupwomangetonmyhorse.com/
OMG, hilarious!
I guess we now know that Cramer is not behind the "Leo Kovilakis" user account..
Is that an insult to Cramer or Leo?
Set up for Volker Rule implementation, no more derivatives, reduced leverage, swap desks ect... Shutting down the rigged Zombie Bankster Casino. Sheep herding, must get them in the pen ASAP or all will be slaughtered. Last Call, going going GONE ! *Warning* big red volume bars just ahead.
Is Cramer still on the air?
I thought CNBC replaced him with that infomercial for the food chopper.
Patience dear boy.
Patience.
No. It's the Sham Wow...
Jimbo just got to the last page in "The Shining" and found out what Redrum is. He is truly shocked that gambling was going on, much less Redrum.
Errant click! Unintenional JUNK. Sorry.
Click it again, and make it disappear...
I did not know that. Thank you.
Can Zerohedge start a TV channel? seriously, I think we are all tired of the over zealous optimism spewing puppets in the main stream. For some sadistic reason I still turn it on though. I'd rather just turn on some real news.
agree, It is sad, many smart people could have started new TV stations but capitalism is broken, to small to suceed, got squeezed and all that is left is sleeze.
Before I sign off for the night, let's not forget that Cramer loved the market back in April at Dow 11,200 and he'll love it when it gets there, again.
OPEX week. Somebody's long vol. Maybe Cramer, probably one of his buddies.
Months ago, there was an unstable guy in the bank muttering--
"It was the best school in the state" --over and over and over.
Whispering it like a mantra.
I found myself repeating Mako's phrase over and over as I drove through the DC suburbs today---
"There is no out, there is only in."
"There is no out, there is only in."
Realized this place is making me insane and determined to tell everybody here they are wrong. Unicorns and skittles for me from now on.
Everything is going to be fine.
Stick my head in the sand and listen to Cramer.
F me!
There...he said it. Housing bottomed last year.
I haven't got enough shoes to throw at the TV now. I sincerely hate this man. If I gave him 3k today and funded myself 3k in a race to a million. He'd be broke in a week.
Retarded he gets airtime. Totally retarded.
CNBC took it down.
It was the first minute that scared the owners.
The market is rigged.
Cramer just got fired.
So fucking fired...
Except for: we are living in utterly bizarre times and I'll be not surprised when he merely takes a vacation.
Vaudeville Act. Nuff said.
If Mr. Cramer wanted to really tell it like it is, he'd discuss how THERE IS NO MARKET, and hasn't been for a very long time. It is just cyborg algos trading back and forth. In the meantime, if he'd like to bring the economy into the discussion, it is a shambles, as is the finance sector, which preceded the economy into the abyss.
Boyz the end is near.
First warning was the S&P low of 666.
Then the sea turned to blood. Rev 8:8. Have you seen the satellite photos of the Gulf?
Jesus burned up last night.
http://www.whiotv.com/video/23901994/
And now Cramer is saying something sensible.
What's next? Dogs and cats living together?
I almost got laughed of the site when I typed something similar two weeks ago.....
Why its because you're a member of the underworld and he's a cute little rich kid from the comics.
60ft Jesus Statue Struck by Lightning, Burns to Ground.
MC-900-Foot-Jesus comments: "60 foot!?! That ain't shit" and then promptly starts a fire while the city sleeps.
http://www.youtube.com/watch?v=Ye0k-qRDSno
One of the most interesting songs you'll hear all week.
Insurance company refuses to pay claim, calls it ACT OF GOD. h/t Mike Rivero
+$!
Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeee! Get the popcorn!
Change of mind.
“Let’s speak truth about this market right at the top of the show”
......
“People hate it ..... because it’s one way each day, not connected to any other day ... sure we caught a rally, but ya know what? Nobody trusts this one”
Paraphrasing.
“Bad news makes the market go higher.”
Cramer puts forward the protectionist agenda (via CNBC) for Hopey McChange?
Wait until tomorrow...lots of economic data and assumingly all of it feces smelling.
Right now futures (whatever that's worth) are hanging around flat. You know, for sure, that they'll be positive by market open.
My problem / fear is that the more they get detached from reality...the WORSE it gets. Once you reach complete fucking absurdity, what's more? You think a 50 multiple is more outrageous than 40? What about 100? What about 1000?
The problem is, in my opinion, once all attachments to reality are lost then there really is no limit to how absurd it can get.
+googolplex
Can't disagree with that.
Something is rotten in the State of Denmark.
He said most of the truth except for the other co-conspirator, the govt.. They also are manipulating the market, the reason why people are looking at overseas to see what is happening in the world markets is because, wait for it. THERE IS NO TRANSPARENCY IN THE US MARKETS ANYMORE!!!!!!!! They see what is happenind and now manipulation is going on and so to get a somewhat good view of what is going on they need to look outside the US in order to get a better view of the market. They don't trust the US market anymore. He told the truth up to a point but didn't take it to that final step. I feel sorry for the US when this whole house of cards come down, because when it does it's going to push most of everybody over the edge in sanity. Everything they thought they believed in was a lie and they allowed the lie to continue because they believed in the snake oil salesman.
Market Calls Cramer:
"Stupid, Rapacious, Arbitrary, Capricious, Downright Ridiculous and...
a sweaty Douche"
Market tells Public:
"Stay away from Cramer the Clown..."
OK,,,,Jim I give you credit...good.you for you...
Welcome to the jungle Cramer. The machines are in charge and I'll wager the buy program will run for a few more days. They'll have to gun it hard to divert our attention away from the growing monolith like oil blob in the Gulf. That mess has yet to show its full effect on the economy - here's my take, it'll be bad. Real bad. Get ready for the Clampdown!
Better cover our shorts since The Mad Man usually is wrong...
Keep fucking that chicken.
give Cramer credit...this was his best opening monologue EVER!!!!!!!!!!!!!!!!!!!!!
full of fury and passion. he nailed 90% of it
I just turned on his opening spiel because of this post. Interesting.
Well, this is about Bernanke. This is about Bernanke. He has to be on that call. Forget the investors. The investors are gonna do- If Bernanke listens- Bernanke needs to open the discount window. That's how bad things are out there. Bernanke needs to focus on this. Alan Greenspan told everyone to take a teaser rate, then raised the rate 17 times? And Bernanke is being an academic. It is no time to be an academic. It is time to get on the Bear Stearns call. Listen. Open the darn Fed window. He has NO IDEA how bad it is out there. He has NO IDEA! He has NO IDEA! I have talked to the heads of almost every single one of these firms in the last 72 hours and he has NO IDEA what it’s like out there! NONE! And Bill Poole has NO IDEA what it’s like out there. My people have been in this game for 25 years, and they are losing their jobs and these firms are gonna go out of business and HE’S NUTS! THEY’RE NUTS! THEY KNOW NOTHING!
I have not seen it like this since I went 5-bid for half a million shares of Citigroup and I got hit in 1990. This is a different kind of market. And the Fed is ASLEEP! Well, Bill Poole is a shame. He’s SHAMEFUL! He ought to go and read the Accredited Home document, at least I read the darn thing.
You can’t get a darn loan if you’re rich like me.
Gotta buy the candies baby nflx at 60x earnings how could you go wrong.
I'm waiting for the "think like a bastard" segment on Cramer's Playhouse - it's just a matter of time.
Today felt just like 2009
Fuck, I was going to short the market at these levels, but now I have to go long.
100x and fully margined, right?
11 hours of rally in London/NY FX and now we're working on the 11th hour of consolidation seeing as the buyer markets are closed. (China's on holiday but where's everyone else?) NO SELLING for 22 hours now and a steady stream of bad reports - did you hear Angela Merkel's coalition government in Germany is facing 'collapse'?
http://www.guardian.co.uk/world/2010/jun/14/angela-merkel-germany-coalition-collapse
Oh yeah, and the Greek junk downgrade and the Spanish general strike and the IMF head visit to Spain...not to mention the sentiment, housing starts, trade balance reports from around the world yesterday - all negative to overwhelmingly negative. Awesome!
I think the Asian FX market is in hiding. Everyone, EVERYONE thinks the squeeze will ramp up with London & NY. EURUSD has held to a 20-pip range all day. EUR falls and there goes Bermonkey's equities rally so that can't happen, so they say. TA monkeys around the blogs all figuring out the next 'technical levels', like it matters. So they all expect buying to happen but not enough to proactively buy NOW, just in case it, you know, doesn't. No-one wants to be marooned at the top with a load of EUR tushy tissue.
So now I'm wondering if this is the day that the Powerz will pull a fast one and sell, now that everyone else is afraid to.
So...that will make Cramer RIGHT.
And then you'd have been right before, and wrong now.
So I clearly cannot choose the wine in front of ME. :-D
The "Powerz" are like Wesley, they'll win no matter which wine we choose (long or short).
Argh, I'm so confused!
This comes on the same day Matthews MSNBS says Obama is not presidential? What's going on in the peacock camp, are they wandering from the reservation?
The producers watch polls closely.
The Emperor is becoming unpopular. So is the regime as a whole.
B.O. was never meant to complete a full term.
His time is up. The deed has been done.
What's next I wonder? We will surely find out soon enough.
Where's there's a 100% concentration of power, there's no lack of propaganda.
Do you want Joe Biden as president?
hey people, all he wanted was to "encourage" bulls and bears alike to trade, tarde trade - volumes are pathetic, HFT's commissions have to come from somewhere, exchanges have to make money, no one watching CNBS anymore because the sheeple isn't trading. long or short, you the people lose.
I agree. I just talked my husband into taking our money out-guess I got through to him that this is a game rigged against us, the odds are terrible and we will be the losers once the other shoe drops. We are falling down the rabbit's hole so who knows where we will end up? Wonderland? Purgatory? Hades? Hell? All I know is I don't want us to lose our shirts while the squids are fighting over who will be master of the universe.
Good for you! Well done.
Maybe the island, maybe gold and silver is the only currency the 'others' and the 'dharma initiative' will accept
STOP THE PRESSES!!!
CRAMER MORPHS INTO WALL STREET PRO2!!
http://www.youtube.com/watch?v=MoAyBb8D5GU
yikes, Cramer baby.. how does it feel to get your shorts squeezed?
Giddyup Mabel, this is gonna' be one bumpy ride..
That is one tough Chinese Mustang!
" It's almost as if the whole market is caught between 1st base and 2nd base"
Ohhhhh; it was actually a baseball reference. Before I choked down my aversion to Cramer and watched the clip I thought we were talking about a market that was only getting some tongue plus a little 'over the bra' fondling... or is that analogy still applicable?
Also, I thought 'Crime and Punishment' had a perfectly happy ending: that Raskolnikov was a cowardly, lazy little bitch who deserved all he got, or worse.
Regards
Cramer is a shepherd. He's just making sure Joe and Jane Sixpack don't share the gains on DOW 50,000 when Ben blasts our debt into submission with a bukkake of money. Print & Pump to Prosperity!
Horrible image.
COSMO CRAMER'S MAD MONEY:
http://williambanzai7.blogspot.com/2010/06/mad-money.html
Maybe this is Tyler with a Crammer mask, prancing madly in front of the cameras, while Jim is squirming in a CNBC closet with duct tape on his mouth and round his wrists. Maybe they're two parts of the same schizoid persona, and it's like the part in Fight Club, where Tyler Durden's Ed Norton starts having Brad Pitt episodes...
Cramers quite right, but goddam, a supposed trading pro for decades suddenly seeing the light is kinda suspect.
(rant on)
FUCK YOU CAPTCHA!!!!! YOU HEAR ME! FUCK YOU AND THE COMMODORE 64 YOU RODE IN ON!!! YOU THINK YOUR SO GODDAMN SMART, WELL YOUR NOTHING BUT A GLORIFIED DOLLAR TREE CALCULATOR!! THE ANSWER WAS 4 FUCKING DIGITS AND I DONT GIVE A FUCK WHAT YOU "THOUGHT" THE MAXIMUM WAS! SINCE IM POSTING THIS, I WAS CORRECT AND YOU ARE RETARDED LIKE ALL THE OTHER SHIT FOR BRAINS COMPUTERS!!!
(rant off) Sorry, its been kind of building up. Negative numbers only exist in the brains of man. Nature abhors a vacum and would really despise going minus.
He lost me on housing.
F him. F everything.
Leo I am on your side in some ways. I tell you what will work. Your solar, aerofarming, wind power in cities. It really...seriously with the $1 Trillion (at least) that has been blatanly wasted on garbage, solar alone would have done so much more good than harm. War in the Middle East?!?! $500 Billion a year on military??!?! $1 Trillion for "The War On Drugs" and nothing to show for it?
Why are countries crippled by gas gussling CO belching fart monsters when some solar tents and rooftop solar, wind, hydro and geothermal power would feed a huge percentage of taxis in any major city like Hong Kong, Chicago, Shangai, Tokyo, Sydney, Seoul, New York. How about a monorail in a city center? Things have been built up just keep going. Serioulsy mining through bedrock is so 20th century.
I belive things are able to be fixed. Many of you that post here can make a difference. I may agree that the timing isn't right yet; like why save the assholes that are fucking everything up. But don't be afraid to make the difference at least. Leo is just misguided in that he doesn't want to believe things are adrift with no captain. The free market can be the captian but under some debt driven pseudo-economics the two are incompatible.
I won't blame anyone for sitting on the sidelines but there used to be a time when people with money invested in things they believed in. I hope that anyone sitting on funds understands that the stock market isn't the only way to gamble some money.
It may not be now but in the future there are things that will make a difference. One example of bad policy is taxing alternate fuels sources like biodiesel...why do we need more ways to put money into stupid govenment hands?
That leads me to a little Ron Paul rant. They want to tear him up in the MSM. Fine. But his suggestions, to have competing currencies, besides the almighty FRN, are spot fucking on. I don't care about his investments in gold and mining. Like if he was invested in Google and made $300 million off it he'd be a monster, when we all know he'd be a fucking genius, but he'd still be pilloried in the MSM.
You are the monsters you fucking vampiric imbicilic zombie horde draining all of the good from people that would do right in the world, oil glomming, war mongering, currency debasing, environment destroying, freedom stealing, thought warping, perverted, megalomaniacal, sociopathic, uncreative, deranged, fanatical, narrow minded, grovelling, sycophants that would sell their mother for power.
There will be a time when they cannot be in power. It will happen. They don't want to believe it but it's always an inevitablilty. There is no good v evil. It is works v doesn't.
It is evolution. You will be extinct.
Wow. That was so articulate that I had to read the bolded paragraph out loud to my husband. I had to stop and take a breath halfway through. And my tongue got twisted up twice.
He was suitably impressed.
When the line of torches starts, I wanna be marching next to YOU. I'll be the one wearing wooden sabots and a red shirt. :-D
Christ I love this site.
I think that set of adjectives covers it pretty well. Well done.
Take a big breath.
Med check...
Perhaps the honeymoon is really over now.
That being said, given Cramer's record, perhaps the smart move is to dump every dime you have into the stock market first thing tomorrow morning.
.. - Cramer..hahahaaaahhaha HAAAAAAHAHAHAHAHAHAHAHAHHAHAAAAAAAAAAAAAAHAHHAHAHAHAHAAAAAHAAA HARHARDYHARDY HAR
1st time i ever agreed with Cramer.
Lots of smart people here and I'm surprised none of you have figured out Cramer's schtick. He predicts EVERYTHING
I mean literally everything. He predicts the market will go up and a few days later that it will go down, and the same for individual stocks. Then a few months later he trots out which ever one was his correct "prediction"
This is just him setting a marker so he can show in a few months that he made the correct call, which ever way the market goes.
Wow, Cramer had a breakdown! Maybe he really is a value investor.
Even a blind pig finds an acorn once in a while.
My thoughts too - a stopped clock is right twice a day. Even still, it sounded, even if breifly, like he was telling some truth. That surprised me.
As I stated above, in the long run all you have is a busted clock and a useless hog.
Just enjoy :)
http://www.thedailyshow.com/videos/?term=cramer
This is the best of Jim Cramer on CNBC.
Wow with Cramer saying get out I'm almost tempted to get back in....the guy that told people to buy BP back in May. I think he is pissed since he has gotten it wrong so many times and in a huge way recently. Unfortunately I think he is right...the market is no longer controlled by reality, but rather the few. It is actually rather sad to see things at this level.....it feels like a slow death perpetrated by some sadistic caretaker that could care less how much suffering occurs since they know they will get paid whether the patient lives or dies.
I think Cramer must have found ZeroHedge.
WHATEVER ... a very short few days ago he was talking about how it was time to get in ... he did a 10min rant on how the recovery was here, the market was too cheap, fundamentals were ready for a rally ...
Tout 101 - Make lots of predictions and forecasts, so that no matter what happens you can claim victory.
In short ... he's a perma-douche ...
"It is a tale told by an idiot, full of sound and fury, signifying nothing."
When I first read that, I thought Cramer was talking about himself.
+10
Cramer would work better as a spectacle if he put a paper bag over his head whle he rants.
What I want to know is -who is feeding golf advertising onto my zerohedge screen?
My personality failings are my own business, not yours.
The targeted advertising algos appear to have gotten an upgrade in the last 30-60 days. Anyone else notice this?
IE -- a search engine query that you've typed in recently causes a particular ad or type of ad to 'follow' you to various sites and 'show-up' just for you.
I understand this has always been the goal and is not exactly new, but the algos just seem to me to have gotten better at the task, very recently.
Boy, Cramer turns negative and wins over Zero Hedge.
But, let's read between the lines, here.
In May, there was a flash crash followed by a sharp drop which formed a double-bottom.
Now, supposin' what ensues is a rally that takes us through the summer.
Would Cramer, a sell-side shill of the highest order, want the public in the market, now, or at a later date?
Look at it this way. If you were a car dealer that just received a supply of cars, would you sell them at wholesale just so someone else could then sell them at retail?
As I've said before (and received grief for) on this site I like Cramer, especially pre-TV show Cramer and think that he is not beyond redemption.
A retail pump-and-dump TV show is simply a game nobody can win and I'm surprised he hasn't figured that out yet. When you're a deep-down old-school lefty I guess everything you do, however ego-tainted is rationalized as a manifestation of your desire to "help the little guy."
I've also made the case that Cramer is Tyler Durden's grandfather and someone you would not want to be betting against (dirty tricks or no) if he was back running money instead of balthering away on CNBC.
Anyway, mark my words - If Cramer sees the light and loudly, publicly and relentlessly turns on this market, government and capital market structure it will be huge.
Huge.
Sometimes it's not enough to have a great band with great technical skills and great material (like Zero Hedge). Sometimes you need that brash, loud front-man to sell the tickets to the show (or the revolution). Whether or not everyone agrees or gets along is beside the point.
Keep dreaming.
I watched it, again. It's the same old Cramer, blaming Hedge Funds and Evil Shorts but never the exchange establishment, itself, viz. the big banks.
The whole thing was phony. He acted as though the market never goes up off bad news when it does so quite regularly, and he knows it. On those days, the headline in the financial sections of newspapers usually goes something like, "The market 'shrugged' off..."
I not dreaming anything this is just my assessment of Cramer up to this point and what could happen in the future under certain conditions.
Out of many various and differing perspectives on Cramer in this thread, I found this the most interesting.
I don't have the vast experience of Cramer that you guys do, that's for sure. Only watched him the once (today), and prolly won't again unless ZH does another of these...who knows? The strength of the feelings on this thread are certainly quite something!
BUT, I strongly agree with this point in your comment: "Sometimes it's not enough to have a great band with great technical skills and great material (like Zero Hedge). Sometimes you need that brash, loud front-man to sell the tickets to the show (or the revolution)."
Zero Hedge can (no offense to the wonderful posts & comments here) be a bit of an ivory tower. Revolution may start with intellectuals and various elites so to speak, but it needs AUDIENCE. Even the strength of the reaction here that Cramer seems to evoke, says something about that, I think. Who's Cramer? Just some TV talking head? So who cares then? Well, it appears a lot of people have strong feelings.
'Cramer' (or his equivalent) may not have the depth or even integrity (? who knows) of many here. But he (or his equivalent) can make things accessible to a wide audience...without endorsing Cramer himself, the Cramers and Huffington Posts of the world are necessary if we ever want to reach people who maybe DON'T live & breathe finance, aren't prepared to Google terms or do research, but would act if they could just hear a simple bottom line. :-)
This isn't the same as the point you are making but I liked your comment, for the scope you introduce, FWIW.
Seems like a catch-22. The 'simple bottom line' is not so easy to articulate particularly when there are ubiqitous simple messages that are the OPPOSITE of truth.
If people aren't 'prepared' to Google a term, well, that seems like a severe remedial situation.
I think you've helped me to understand why so few perceive the amount of flatly contradictory information that gets floated in the MSM. I'm starting to think that some actually DO NOT HEAR the contrary information. The passivity is VERY deeply seated. (not a comment directed at you -- you just got me to thinking)
anticipating the obligatory DLR or Sammy Hagar mudfest to ensue . . .
Stunned. Is he off his meds? Sucidial? Was his show canceled?
So then it is time to go long?
What if his parent company is flexing it's muscles in front of the government? What if Obama and congress are doing things that threaten them, to appeal to us and keep their jobs? What if Obama and crew are biting the hand that feeds them and that hand is now slapping them upside the head, showing them "who run barter town?" If you don't have our support, you don't a presidency.
Need some propaganda work done? EMBARGO!
Oh my! Excellent thoughts. Funny!
This is the first "buy" signal I've seen in weeks.