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One of my favorite movies is "A Few Good Men" that starred Tom Cruise as Lieutenant Daniel Kaffee, Demi Moore as Lt. Commander Jo Ann Galloway, and Jack Nicholson as Colonel Nathan R. Jessep.
There are several great scene's in the movie, but the line that I feel that investors should focus on when taking advice from Wall Street is this one;
"Should we or should we not follow the advice of the galactically stupid."
Now don't get me wrong, I don't think Wall Street is stupid. In fact, they are the smartest people playing the game. I do believe that the uninformed investor who blindly follows the advice from individual investors who do not understand how the game is played can be characterized as "galactically stupid."
Cartoon from: www.cartoonstock.com.
Here is a confession from Jim Cramer on how stocks are manipulated, and misinformation is delivered by Wall Street to various media sources. Cramer admitted that he would not mention this on TV.
Frankly, I am surprised he even admitted this stuff.
Here is Cramer's Interview from You Tube.
This confession of how the stock market game is played will certainly burst your bubble if you only believe in the mantra, "Truth, Justice, and the American Way." I guess you can call this an enrty into the stock market re-education camp.
Here are some other quotes from "A Few Good Men" that may fit into our eye opening experience on how some traders manipulate the markets, and eventually the small investor.
Quotes from "A Few Good Men"
Lt. Weinberg: They beat up a weakling (the small investor), that's all they did. The rest is just smoke filled coffeehouse crap (stock opinions).
Daniel Kaffee (the small investor): I want the truth!
Col. Nathan R. Jessup (how the system really works): You can't handle the truth!
We still believe we will see the Dow move down to the 11,700 level before attempting any type of meaningful rally.
Here are the latest technicals from Colin Twiggs at incrediblecharts.com.
