This is some grainy footage of elusive playground legend Lamar Mundane, presumably from Rucker park (some basketball fun for the commencing of the Tourney).Also elusive has been fear and panic on the part of investors, at least as measured from reader feedback both here and in my Street.com email account.
I had one email at TSCM that was irrational beyond, well, reason. I can recall two comments on the blog expressing anguish and one on Wednesday that was nasty.
This shows, unscientifically, that there has not been too much fear accompanying the decline that started a couple of weeks ago.
This chart is of the three Vix-like indices that I know of, looking back one month. Perhaps the chart is saying that there will be more volatility for a while and since we can go up from a higher Vix level than in months past there may not be enough emotion embedded now to say a bottom is in.Do not take as a prediction for today or tomorrow, just continuing belief that this will turn out to be a normal sized correction.
11 comments:
If you want to see some wild comments check out todays (march 15, 2007) video at http://www.galatime.com/
One way or another ($VLE vs. 75dma goes positive or Smart/Dumb money model goes OS) my model is going to tick up to a +1.0 or 70% long. I'll be buying today but don't know if I'll get to 70% by eod.
A correction within the norms is the best possible scenario for investors, and the worst possible scenario for Big Media. Cattle-prodding bad economic news should be left to the political party trying to get the power of the Presidency, not journalists who should be reporting all the facts and not selected tidbits.
I am probably too idealistic.
http://www.youtube.com/
watch?v=708wDFX28lc
Cramer in confessional mode...saw at bill cara's blog. Nothing shocking here. But refreshing to see jim look a little less hyper. And, cnbc comes off as the stooge. Cramer has so much power there, he must, to make the comments he made.
Thanks for posting the Cramer video. It reaffirms my belief that most investors would be better off if they never read, watched, or listened to any financial/stock news.
It's been my experience that when cramer goes confused or sorry, it marks the end of the current downturn. Ever notice the track record of the stocks that he owns in his charitable trust?
To T: "I am probably too idealistic." Well that it a qualifying remark for a leftie wannabe! Hah!
Re Cramer: Cramer is so emotional. One minute the sky is falling, the next minute it is Katy-bar-the-door. I like the calm, measured evaluations that Rev Shark, Roger and Barry provide as well as Bill Cara. I don't view him as a sky is falling gold bug as I've seen noted.
Is the shark still at zero equity in his timing letter? I was reading for a little while. A good read, but I had to narrow down sources of influence.
Anon 12:49--the only thing I read is his Real Money column. I don't subscribe to anything else of his or the Street's.
Cramer underperformed big time in his charitable trust. I think he only made six percent last year.
JJR
Update: I'm on the fence again at 50% long. It looks like we're going to see another wave of selling today which will probably push the 5 day moving average of $VLE below it's 75 dma. Look at the whipsaw action going on here:
http://tinyurl.com/28w392
Goefert's Smart/Dumb money model is still lingering just above OS territory. Last night I did an overlay of this model with his Intermediate term model to see how the market performed when both were simulatiously oversold. In every instance the the market was at or very near the bottom of an intermediate cycle.
Unless the market gets pummeled today I'll stay at 50% long and see how his S/D model shapes up this weekend. IF the market truly gets pummeled today I'll do a little more buying.
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