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Spotting a market top or bottom is not always easy. The reason is because investors get caught up in the euphoria or hype of the moment, or get depressed during periods of hysteria.
For example, a few years ago (and I hate to admit this), my wife and I would watch the cooking show, "Emeril Live". As the show became more and more popular, I noticed "Emeril Cookware" in the department stores. After seeing the cookware in the stores, I told my wife, "If Emeril was a stock; I would sell it right now".
Another example of euphoria is Jim Cramer's "Mad Money". When Cramer (and CNBC) began to take "Mad Money" on the road to college campuses nationwide, I knew the show, and maybe the market, was approaching an important top.
In short, if Cramer's Mad Money was a stock, I would have sold it when they began taking the show on the road to college campuses.
On the website a few days ago, I posted an article entitled "Free Markets ? Supply & Demand?". I provided a link to a Cramer Interview from You Tube. Cramer spilled the beans on how Wall Street delivers misinformation to the public, and manipulates stocks for their own benefit. I also said, "Frankly, I am surprised he even admitted this stuff."
Now Cramer is under the gun. The powerbrokers on Wall Street are angry, and they will be out to destroy Cramer and his show. Watch what happens. I'll bet they will dig up some dirt on Cramer, and eventually discredit him so bad that CNBC will be forced to pull the show.
Reuters is now reporting that Cramer may be investigated by government and stock market regulators;
Wednesday, March 21, 2007 07:24 ET
Is the mouth that roared in trouble? Jim Cramer, the stock market commentator and GE's (GE)CNBC TV host, in a December interview on TheStreet.com web site, and now getting a great deal of attention, described illegal activities used by hedge fund managers to manipulate stock prices. The interview, posted on video site YouTube.com, may be studied by U.S. government and stock market regulators. The interview pulled no punches in describing tactical buying, shorting or using options to create an impression in the market that could prompt other traders and investors to buy or sell a stock. "A lot of times when I was short at my hedge fund...meaning I needed (a stock) down, I would create a level of activity beforehand that could drive the futures," Cramer said. "It's a fun game and it's a lucrative game." He said some tactics are "blatantly illegal," but sometimes essential for poorly performing hedge funds. He didn't say he ever used such tactics himself. He also said the SEC doesn't understand some illegal activity. There's much more in the interview, and eyebrows have been raised everywhere.
Unless I am way off base, I think you will be see some very powerful sources attempting to bring Cramer down.
Yes, even in the good ole USA, there are some people that you just don’t mess with.
