Comments on: Cramer Calls Another Housing Bottom…Puh-leeeze. Enough is Enough!

By: workedlate

workedlate — Wed, 27 Aug 2008 12:27:54 +0000

to pick stocks I meant…….typo

By: workedlate

workedlate — Wed, 27 Aug 2008 08:12:34 +0000

Cramer is a fraud, and is just trying to appear as if he is the worlds greatest gift to wall street because he was able to pick good stockes in a bull market……where was he during the past 8 -10 months

By: Brant Gaede

Brant Gaede — Tue, 26 Aug 2008 22:33:56 +0000

Just checking Cramer’s weekend story in which he claimed six months and explicitly rejected a year. This is a quick switch.

By: Brant Gaede

Brant Gaede — Tue, 26 Aug 2008 22:22:47 +0000

James Cramer just called (Tuesday) a housing bottom of June 30, 2009 on his Mad Money show completely ignorant of Alt-A. Except for that it would probably be a good call. His primary argument is that the stock prices of the seven biggest homebuilders bottomed a month ago and those prices precede major turns in housing markets by almost a year.

By: Mr. Mortgage’s Guide to the TRUTH! » Prime & Alt-A Defaults Surging Says S&P

Tue, 26 Aug 2008 15:29:23 +0000

[...] Comments Stu on Cramer Calls Another Housing Bottom…Puh-leeeze. Enough is Enough!Viv on Cramer Calls Another Housing Bottom…Puh-leeeze. Enough is Enough!Stu on Cramer Calls [...]

By: Stu

Stu — Tue, 26 Aug 2008 15:16:51 +0000

Viv, actually it is 3 months in a row, but don’t get too overly optimistic from the reading. Year over year data is much more compelling as to insight into these measures and last July the index stood at 111.9 vs. 56.9 today. The index is still nearly half of what it was only a year ago. The bench mark is 100 which means although over 50 means growth it is very little and volatile growth. Most of this is due to the “Sheeple” buying into the rhetoric being force fed them. We have just been teetering on the neutral spot of 50 for a while and it will probably stay that way for quite a while longer would be my guess. It also is affected by what is going on in the markets at the time of the survey. This week was a good spot with the Dem convention, Fannie / Freddie good news (if you believe the hype), Existing sales up (M/O/M and again if you believe the hype), Stock market up last week and some great spin and hype oozing from various corners in the markets. Nothing has changed to warrant any serious uptick in consumer confidence and nothing on the horizon looks to be enough to do it either. In fact a few things are on tap that could cause the reverse affect as in Lehman going under, Freddie and / or Fannie being bailed out, banks failing (9’th one yesterday went under this year), major price declines in housing or a continued rise in foreclosures and housing inventory along with unemployment rising. Many bad things could potentially alter this number in a hurry while few if any will allow it to gain any serious momentum…

By: Viv

Viv — Tue, 26 Aug 2008 14:11:56 +0000

US consumer confidence is up for the 2nd month in a row!

By: Stu

Stu — Tue, 26 Aug 2008 12:57:29 +0000

I had to share…

http://www.youtube.com/watch?v=712kRqri2No

By: Just4Laughs

Just4Laughs — Tue, 26 Aug 2008 04:44:12 +0000

Cramer said that? Well what do you expect to hear from a bozo? Words of wisdom?

By: viv

viv — Tue, 26 Aug 2008 03:32:16 +0000

Stu, the “sheeple” mentality probably stems from evolution. The human brain isn’t wired for the truly random world we live in today. There are some great books on the subject of irrationality in investing, Mean markets and lizard brains comes to mind. This is an interesting article as well, Why we fail to see when we’re about to fail? http://www.forbes.com/2008/08/22/summer-reading-motorola-ent-manage-cx_kw_0822whartoncellphone.html seems we get attached to our opinions even in the face of changing events that are distinctly otherwise.

The Elusive Obvious I call it.