Cramer Says He Is Now A Stock Market Bull Believer - Mike Swanson (10/06/2015)
All it takes is a bear market rally for a few days to convince people that the stock market is going to go up forever and that there is no longer any risk of losing money.
Jim Cramer says he was a "bear" on the market, but last night on his TV program declared that "Suddenly, good news is busting out all over, and we can't not talk about them. I have been bearish for a while now, but if the facts change, I have to change with them."
Cramer ignores earnings, valuations, and the big trends of the market and responds only to short-term daily gyrations in the financial markets and the demands of his advertisers.
Cramer and Fast Money boys pump last year's winners and actually ignore the sectors and stocks that are going up the most on this recent bear market bounce and breaking out into real new breakaway bull markets. All they do is hype the tech and fad stocks of the past.
If you think Cramer is a good market timer all you need to do is consider his claim last month that low interest rates would cause corporate earnings and the stock market to soar. I posted that video nut call here.
Now right after Cramer said that the stock market dumped to its August lows.
During that drop Cramer said he was a "bear" but advocated buying junk stocks on the way down.
Now that the market has bounced he is calling himself a stock market bull and telling people to forget about the risks in the market.
His timing is terrible.
I do not think that is because he is a bad guy, but because he is controlled by his producers who are in turn controlled by Wall Street advertisers.
That makes for a sad life, because to be a media star requires one to spit out propaganda at times in defiance of reality and honesty.
One wonders if that is what caused Janet Yellen to suffer a sick breakdown when she gave this speech the other week claiming that the economy is good.
It looked like she had a mild-stoke, but the Fed issued a press release saying she had no stroke and was in perfect health a few hours after this speech.
So I assume that she was just fatigued and tired and having to give this false speech pushed her over the edge physically.
Hopefully she gets better.
And hopefully for her own good she just retires from the Fed and lives a good life for the rest of her years.
Look it's impossible to make money by watching CNBC.
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This book is currently the number one best selling stock market book on Amazon.com.
That is because IT IS THE ONLY BOOK that deals with today's new stock market bear market - and the new opportunities to make money in the markets that Cramer ignores, because he must.
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