Wednesday, July 09, 2008

Cramer: Still an Idiot

I love this article (even though I haven't historically like the authors writings). It attempts to dispel "Technical Analysis" and in the process skewers my Hall of Idiots inductee Jim Cramer, what follows is a snippet, click the link above for the rest:

".....It began when Felix Salmon, who writes the outstanding 'Market Movers' blog for, found the inimitable Jim Cramer urging his CNBC "Mad Money" viewers on June 13th to "buy, buy, buy!" stocks based on a certain reading on a technical tool called the "S&P 500 oscillator." Cramer encouraged his minions to purchase financials, tech and homebuilders in particular - a call that, ahem, didn't turn out so well over the past couple of weeks. The Great Booyah himself backtracked on it just a few days later."

I Love It.......perhaps we'd make more money doing the opposite of Cramer!

Scott Dauenhauer, CFP, MSFP, AIF