Cramer says we have bottomed, yet again. However, don’t pay attention to one of his favorite stocks: [[HOLX]]. After all, those guys rock. And, the CEO is a “money maker.”
Nothing can keep this market down—not even HORRENDOUS jobless claims.
We’re supposed to be down around 250 points by this time, considering the recent run up, coinciding with the GDP and jobless claims data. Instead, we’re heading up baby, Vegas style.
Yeah the banks are broke, so what! They’re all buys again, mainly due to the fact that they have gone up 60% over the past week.
Luckily for me, I am long [[MS]]. On the other hand, with a bit of unlucky flavour [sic], I bought a bunch of oil stocks yesterday.
Ask me if I care. I fucking dare you.
As I watch [[SKF]] go from up $4.50 to negative, all I can think about is what’s for lunch. I can go with the meatball hero or maybe some pussified salad with fancy herbs and other shit in it.
As an aside, I wish death to those who are high fiving each other right now, as they buy bank stocks. Scratch that. I wish you get fired from your job, and as you’re packing your bullshit belongings—some jacked up jerk off comes over and punches your eyebrows and mustache off.
There, I feel better.
Top pick: [[SKF]] If you enjoy the content at iBankCoin, please follow us on Twitter
At least “The Fly” let go of RIG – he was becoming Cramer like in attachment.
Says here that housing in California have bottomed.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aAL047pyn7t4&refer=home
Fly,
I’m in total agreement. New fucking Bull Market!! This shit is ridiculous. Forced to cover my shorts as I watch in disbelief as my recent gains are evaporating. I was certain that the POS GDP numbers would send this market in a tailspin with overbought conditions in place. So I suspect the market will gap up 300 points or more tomorrow if the Jobs # is the worst ever. Get long stocks now!!!
SKF does not like to go below the 200d, and it is only a matter of time before some more shit breaks. The GDP is being shrugged off, so that card gets to factor in on the next leg down.
The bulls could run this bitch straight up to 11,800 without breaking a sweat, no?
RDSA, on the way! Buy, buy, buy! Boo friggin’ yah!
This is just a manipulated rally. You cannot believe that once the regulated non-short policy in the financials is over, the market will continue to rise. Aug 12th, should lead to a short attack.
If history has taught us anything, government intervention is never good.
Adam Smith and John Keynes were dead on with the state’s intervention.
Where teeny tiny Fly man??
—
Where he hide??
—
HOLX SMASH!!
_
GW Bartender —
I am so glad that lying weasel from PIMPco was featured in this hype piece… I hope he’s buried in shitty mortgages whilst he talks his book into the poorhouse. Savvy this? (from your article):
Almost $1.3 trillion of homeowner equity was lost in California since home prices peaked in December 2005, Zandi said. Discounts of as much as 50 percent will extend into 2010, helping clear a glut of foreclosures and leading to a more balanced housing market, said Ryan Ratcliff, an economist at the Anderson Forecast at the University of California in Los Angeles, and Christopher Thornberg, principal of Beacon Economics LLC in Los Angeles.
“Half off in a decent neighborhood is close to the bottom,” said Bill Gross, co-chief investment officer of Newport Beach, California-based Pacific Investment Management Co., manager of the world’s biggest bond fund. Property markdowns of 30 percent to 40 percent give the market “price illumination if not sunshine,” he said.
You hope you fucking weasel, you hope!! Moo-hoo-hahahahahaha!
(Sorry, I just hate him so)
The Fly may lose a battle here and there but he will win the War because he has the godly gift of banking coin!
Hey Fly,
I’ve been reading your posts ever since you were mentioned in the Globe and Mail. Thanks for my new expression: “punch your eyebrows and mustache off.” Sheer brilliance.
For those of you who are fans of Signor Fibonacci — Mosaic (MOS) banged it’s head — twice — this morning on the 38% retrace line ($132.90), and is now trading some five dollars south of there.
Grazie, Signori Fibonacci!
______
“Half off in a decent neighborhood is close to the bottom,” said Bill Gross
Johnnie Fuckface has already seen his shitbox drop 50%, but Johnnie lives in Shitzville, CA.
As for Mister Gross, and his neighborhood … I know where this fucker lives … Laguna Beach. And that particular city is full of fuckers living way beyond their means. Mr. Gross’ neighborhood has got a long way to go. All the beach communities in LA, Orange County and San Diego are gonna get skull fucked.
Southern California is no where near the bottom of this massive shell game.
One more point … the problems in California are gonna double screw the entire fuckin’ economy. We are just now starting to see the impact of this … Jobless Claims up 44k.
Follow the bouncing bald. Jim Cramer Jim Cramer Jim Cramer Jim Cramer Jim Cramer Jim Cramer Jim Cramer and Fuck You Very Much EIO.
I saw a list of condo REOs in northern San Diego that sold for as much as 60% off their most recent sales price.
Median income in San Diego is about $75K. Condos that sold 2-3 years ago for $350K+ are now selling for, on average, about $160K.
If you can buy a home for 2x income, get the $7500 tax credit signed into law yesterday as well as the mortgage interest tax deduction, owning makes alot of sense. It will take a while to clear the excess inventory, but the market is doing its job of adjusting prices to incomes and comparable rent levels.
From “RealMoney:”
Yes, You Heard Me — That Was the Bottom
By Jim Cramer
RealMoney.com Columnist
7/31/2008 11:48 AM EDT
Hated call. Guys all over me saying, one, I have repeatedly called a bottom, to which I say, huh? Two, it is not possible, not with this GDP number, not with these housing numbers.
OK, I get it, we are supposed to wait until everything is hunky-dory. We are supposed to keep our powder dry until houses stop declining in value and banks are building up their balance sheets and doing great numbers.
Oh, come on. Do you think that you could wait until Bank of America (BAC – commentary – Cramer’s Take) turned or Citi (C – commentary – Cramer’s Take) in 1990? Does anyone want to think of history? Or is that bogus? Are other patterns worthless?
Second, while not as good as the Resolution Trust Corp., this Federal Housing Administration funding is very bullish and is being yawned out.
Third, commodities have stopped going up. Maybe they don’t plummet, but we can take stagflation off the table.
Finally, when I am hated for a call, I am almost always right. Anecdotal, and I am not saying we are going straight up, I am saying we are not going back to where we were.
Too much has changed. Too much has changed for the better, plus there are plenty of companies that do business overseas, like General Electric (GE – commentary – Cramer’s Take) and United Technologies (UTX – commentary – Cramer’s Take), and the rails and many of the foods and drugs to encourage me away from the banks that business is not weak enough for many companies to disappoint..
Again, can you wait until everything is great to call a bottom? That has never happened. Ever.
Jim Cramer is a featured commentator for CNBC, which is owned by General Electric; as part of his contract, Cramer holds restricted shares in GE.
Congrats Fly, looks like you may have called the bottom on SKF. In other news, I hope WFC, JPM, get the homo hammer of death.
Here it is, Jim “Fuckface” Cramer, calling the most recent bottom:
http://www.youtube.com/watch?v=dt8pd9xd2h4
Donny,
You think Gross-pimp has got a gay sex dungeon in his basement like that other Laguna-area priapic bearded fucker from Broadcom?
I wouldn’t be surprised if he was assistant Grand Vizeer of the Laguna Nigel S&M Society, m’self.
But then, I’m a bit biased.
___
My little bro lives in Carslbad…1800 sq ft house cost him just under $700k in 2005. You think they’re going to get the homo hammer just as bad?
_
I think Paulsen’s got a special electric buzzer in his office.
It’s just one of the many “tools” of the PPT.
This particular buzzer is remotely attached to a 50,000 volt “shock collar” placed around Cramer’s nuts.
Paulsen comes in this morning and consults his checklist:
1) Printing presses revved up?
Check!
2) Fed Window open for every beggared fucker with a sob story?
Check!
3) Short selling restrictions on any “at risk” financial institions locked, and in place?
Check!
4) Commence firing the “Jim Cramer Bottom Call” Ballz Button!
Jarwhol, mein Kaiser!
__
if he was assistant Grand Vizeer of the Laguna Nigel S&M Society, m’self.
Watch it fucker, I live in Laguna Niguel. Besides, Nicholas sex cave was in Laguna Hills, not Laguna Niguel.
Only straight, God Fearing, Republicans live in Laguna Niguel.
My little bro got married in Laguna Niguel.
The one thing I remember most is “the smell.”
I’d characterize it as “Edenic.”
Sweet pad, brofis.
_
Cramer has some good points. The problem is a well publisized chart or market bottom never happens. It is old news. However six months from now he will say he called the bottom. What is wrong with that over rich fuck.
We all know that his wife is the trader in the family. He is a stock salesman and that he is good at.
Cramer is the shit.
BP,
I think I heard Cramer’s wife divorced him about a year ago.
Good trade.
too true about Laguna Niguel
Cramer is shit.