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The Grind Lower Continues


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I just e mailed krudlow a scammer this message..have sent others in the past week..

 

people are loosing their life savings because of you.you have a lot of

nerve virtually giving a guarantee of a huge rally when we go to

war.that statement is totally ridiculous.you apparently no nothing about

the stock market,declining earnings,record debt will be the death of

this market

 

you are clinging to hope,nothing more.....the war will just increase

debt and make things worse.

 

in my opinion you are nothing but a scam artist pumping stocks that you

know are worthless,a shill,a total clown who has been wrong throughout

this entire bear market.it will take another 5 to 10 years to cleanout

the excesses in this market.because of people like you and scam artists

like alan greenspan we are in a world of trouble.

 

how someone who is wrong 95% of the time gets airtime on national tv is

beyond me. I guess that is what Crapvision is for because it is nothing more

then a cheerleading sight to offload worthless stocks on uninformed

people.

 

I hate to be so rude but what your doing to the american public is no

better that what the terrorists are doing to this once great country.you

should be ashamed of yourself.

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Just in the last week, i had three people come in to my office and say that they feel their brokers are not paying enough attention to what is going on in the market place. This is a sign that "the point of recognition" is at hand. They where older individuals with alot of money. If that is happening all over the country then, we are here and this is NOW.

 

You know what i mean. :wink2:

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I have an idea. As Martha would say, not a good thing.

 

My idea is that we start a forum called Cramer Stool where we dig up every moronic dumshit piece of advice he has ever given. With over 1000 members on the board, each one of you should find just one unique item to add to the list. Then we could also get a few of you rocket scientists to calculate the performace of his stock picks from the day he pubicly recommended them to the day he pubicly said to sell. We could call it the Jimmy Jones Cramer Koolaid Portfolio.

 

Thanks to ernstime for the kind words.

 

Mark- you are getting funnier by the day. I lauged my ass off at the Ridge charcterization and several others. When you, buddhadropping, and machine get rolling, it's too much! :P

 

AL- yep that the S&P volume, but it was most of the market at that time. I can remember days of 6-7 million shares in the summer of 74. The NYSE tape would come to a dead stop for minutes at a time. The next print was always down. It was the year the Nifty Fifty finally collapsed.

 

Long live Bowmar Instruments!

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Hey Mark,

 

Here's a Ribbon look at the Big 4 of the Dow, and the $SPX

 

MMM - Definitely needs some more time before it is set up for a big decline. Getting closer though.

SharpChartv05.ServletDriver?chart=mmm,uu[l,a]ddllyiay[d19990501,20031231][pc1!c4!c9!c16!c25!c36!c49!c64!c81!c100!c121!c144!c169!c196!c225!c256!c289][vc60][ill14][J2643169,Y].gif

 

PG - Assuming it participates in the rest of the ongoing slide, it will be setup beautifully for the next big decline later this year as the whole ribbon structure turns over.

SharpChartv05.ServletDriver?chart=pg,uu[l,a]ddllyiay[d19990501,20031231][pc1!c4!c9!c16!c25!c36!c49!c64!c81!c100!c121!c144!c169!c196!c225!c256!c289][vc60][ill14][J2643169,Y].gif

 

UTX- Further along than PG as the stock is trading on the under side of the ribbon now.

SharpChartv05.ServletDriver?chart=utx,uu[l,a]ddllyiay[d19990501,20031231][pc1!c4!c9!c16!c25!c36!c49!c64!c81!c100!c121!c144!c169!c196!c225!c256!c289][vc60][ill14][J2643169,Y].gif

 

IBM - The most advanced of the 4. Ribbon structure has already solidly turned over, and it is sporting a beautiful Twin Tittie formation just above the ribbon. LOB.

 

When all 4 of these pigs line up later this year, we should have one spectacular decline :grin:

SharpChartv05.ServletDriver?chart=ibm,uu[l,a]ddllyiay[d19990501,20031231][pc1!c4!c9!c16!c25!c36!c49!c64!c81!c100!c121!c144!c169!c196!c225!c256!c289][vc60][ill14][J2643169,Y].gif

 

Here's a look at the S&P 500. This decline is just getting underway as the ribbon structure is just beginning to fan out and the ADX is rising nicely. For Rydex timing, when the ADX gets above 40 and then turns down, that's the time to cover for the next ramp job. If you want to try and cut it a little closer, you can cover when the -DI crosses the ADX line, especially if it comes right after a parabolic drop. If we have not yet reached new lows before the ADX does it's thing, it will probably not be the final low for the move, and after a "brief " ramp job, the market will continue lower to a more major low.

 

Note also that this method worked very well during the '29-32 decline as well.

SharpChartv05.ServletDriver?chart=$spx,uu[l,a]ddllyiay[d19990501,20031231][pc1!c4!c9!c16!c25!c36!c49!c64!c81!c100!c121!c144!c169!c196!c225!c256!c289][vc60][ill14][J2643169,Y].gif

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the future of pensions?

 

HRFF's family co-founded one of the famous names in the steel biz. It downsized, merged then floundered as the foreign competition it chose to ignore and failed to respond to FUR so long increasingly ate its LUNCH, and is now, quite inexorably and predictably languishing in bankruptcy, entirely dependent upon govt largesse in emerging therefrom and will use that $ it is, literally, begging FUR, to modernize (purchase an electric arc furnace) something it should have bought LONG ago. Even that will prove too little, too late GUESSES HRFF. The giant mills his uncles once supervised lie silent, and rusting.

 

Management got greedy and failed to modernize. Unions got greedy. They failed to cooperate with one another and STILL view one another with contempt - a fatal miSTEAK.

 

Legacy costs are not just confronting the steel sector. HRFF will never FURget the day he wandered down to Seattle's Pike Place Market to get the FT and read the quote from the highly placed French official that their government had "absolutely NO intention WHATSOEVER" (emphasis added) of honoring pension obligations now mounting rapidly as France's population ages.

 

A lot of these entities won't be able to meet their basic pension obligations let alone their "legacy" costs of health and life insurance benefits.

 

When HRFF was in perp skool a job in the mills was viewed as "security", the American equivalent of the Chinese "iron rice bowl". High pay, a pension with benefits, secure, steady work. And FUR decades it was. Then the world changed.

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Great letters to Crammer guys.

 

I do believe he is mentally ill--no joke--and will end up indigent or institutionalized. All well and good , far as I'm concerned.

 

It's a shame however that in the absence of pragmatic and balanced financial coverage, those with little or no knowledge,who wish to learn about the markets find that their education starts with people like this.

 

Well meaning folks with the good sense to try to take hold of their finances, invariably begin their search for knowledge by listening to borkers, watching Crapvision and reading rags like IBD.

 

It's a miracle anyone survives the financial beatings they take by following such nonsense.

 

And I'll be the first to admit that my early attempts at participating in this market led me down the same path for a while.

 

I got lucky or got hip or something and stopped buying the lies.

 

But most of my colleagues and most of my clients still base their investment decisions------and that includes the "decision" to do nothing-------on BS, lies and spin.

 

They consider Crapvision to be the financial equivilent of CNN.- A "news" source. LOL

 

And when they ask how I am positioned and I tell them I have been primarilly short the market for some time they look at me like I am a witch or a commie or something.

 

 

So I look at people like Crammer the way one looks at any fraud or embezzeler or carny. I see him as a criminal and await the day he is escorted off the set in cuffs

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