Tweet The Skill Of Stock Market Prognosticators
You know the market analysts. Great at telling you where things were. Great at giving a multitude of reasons as to why we are where we are now. Fantastic at hedging their opinions so that it is difficult to be wrong. Not so good at picking a bottom in a move, but great at telling you that we have "most likely" seen the bottom after we are 30% off of it. Basically, like weathermen and economists, wrong most of the time but still gainfully employed with no recourse for those who listen to them for all of the inaccuracies they dispense.
Not So Jim Cramer
The Mad Money Guy likes to say that he tells it like it is. Not here to make friends, but to make us money. That is why last nights show was a little disappointing.
The entire first segment of the show was about how first thing on Saturday morning, the rest of his weekend was ruined. That right there and then he knew Monday was going to be a bad day, as retold to us on Monday night. The reason? The front cover of the chart book he gets delivered showed a disappointing pattern in the S&P which was trading significantly above the moving averages that he says are so important to him.
That the markets HAD to trade down to retrace that gap.
Now Jim Cramer, would like us to believe that Saturday morning was the first look at these critical charts he had since the previous Saturday? That the S&P is not something he watches constantly? That he hadn't seen this very chart pattern during the day on Friday, or the developing situation on Thursday?
Or maybe a stock market bull is doing what all of the "analysts" do and what he is not supposed to be doing. Hedging his bets and coming up with reasons for something after the fact that he should have been alerting his viewers to before the fact.
Et tu Cramer?