Jim Cramer Says "Get Out Of The Market"

[angelatc]

http://blogs.moneycentral.msn.com/topstocks/archive/2008/10/06/jim-cramer-throws-in-the-towel.aspx

I wonder how much influence Jim Cramer has on the markets. The host of CNBC's "Mad Money" went on the Today show Monday and told investors to get out.

"Whatever money you may need for the next five years, please take it out of the stock market right now, this week," he said. "I do not believe that you should risk those assets in the stock market right now.”

 

[Kludge]

Didn't he call the bottom last month.....?

 

[Indy Vidual]

Oops...
I saw him on PBS just a few days ago clearly telling people not to sell.
Perhaps he's gone mad?

 

[swirling_vortex]

Funny, a week ago Jim was saying that the bailout was necessary and bad things would happen if we don't pass it.

I don't even watch CNBC since they're consistently wrong on everything. If I do watch it, it's only to look at the ticker.

 

[angelatc]

No doubt he's an ass. Money that you need in the next five years probably shouldn't be in the market now.

 

[gaazn]

"When your neighbor and Cramer says sell, that means it's the bottom."

 

[Knighted]

Cramer basically tells people what they want to hear. He is irrelevant. When the market is skyrocketing, he will tell people to buy more, more, and more. When the market is crashing, he will tell you not to touch it with a 10ft pole. If anything, he is probably a good contrarian signal that we are reaching a bottom (albeit likely temporary.)

 

[gls]

"When your neighbor and Cramer says sell, that means it's the bottom."

Reminds me of that story about the wealthy businessman getting out of the market in 1929 after hearing his shoe shine boy talk about his "investments".

Even so I think Cramer might actually be right for once in his life, although he would've been a lot more right six months or a year ago.

 

[ItsTime]

If he is saying to sell I highly suggest you keep. I have never seen a man so wrong keep his job for so long... well ok Bush and Big Ben are right up there too.

 

[fgd]

If he is saying to sell I highly suggest you keep. I have never seen a man so wrong keep his job for so long... well ok Bush and Big Ben are right up there too.

Or it's so bad that an even an idiot like Cramer gets it.

 

[Badger Paul]

Now he tell us.

Next he'll be telling us to invest in tulips.

 

[JordanL]

Or it's so bad that an even an idiot like Cramer gets it.

This is what I'm thinking it is. This market is bad. I'd look to see it bottom out around 6000-7000.

 

[Mangonel]

From what I have seen, Cramer said "Marc Faber has been right all along". Faber has mentioned that the market is oversold and can retreat to 8,000 or so.

Cramer is a believer now so it appears. (Faber also says if you hold gold, hold it outside the US) Faber, Jim Rogers......, seem to be batting quite high.

 

[DFF]

Jim Cramer = Which Ever Way The Wind Blows.

 

[lucius]

Goldman Sachs alumni, voice of the CFR--lemmings of the world unite...

 

[foofighter20x]

I have to disagree with this whole thread.

Money that you need within the next three to five years should not be invested in stocks. EVAR.

Him saying what he did is a fundamental of sound financial health.

Anyone that had those funds in the market are wise to follow his advice.

 

[dwdollar]

Reading the comments after that article is scary. Optimism is still WAY TOO high.

90% of the comments take one of the two following forms...

"Now's the time to buy."

"Cramer is causing a panic, shame on him."

Undoubtedly, both types are still heavily invested in stocks.

Yikes. People are being taken to the cleaners.:o

 

[Bigvick]

I have to disagree with this whole thread.

Money that you need within the next three to five years should not be invested in stocks. EVAR.

Him saying what he did is a fundamental of sound financial health.

Anyone that had those funds in the market are wise to follow his advice.

Except for the people who do this for a full time income..

I think I need to find a new job soon. - if the DJIA goes to 0 what will I do? lmao

 

[crackyflipside]

Except for the people who do this for a full time income..

I think I need to find a new job soon. - if the DJIA goes to 0 what will I do? lmao

Run for office; try and change the world.

 

[NMCB3]

Reading the comments after that article is scary. Optimism is still WAY TOO high.

90% of the comments take one of the two following forms...

"Now's the time to buy."

"Cramer is causing a panic, shame on him."

Undoubtedly, both types are still heavily invested in stocks.

Yikes. People are being taken to the cleaners.:o

Yea I know a couple people that are jumping into GM stock. I hope it works out for them.