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Cramer thinks the Dow will drop to 4700 by Tuesday (10/14)

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posted on Oct, 12 2008 @ 10:31 PM
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Wow, that is a shockingly low number. It is concerning that someone who is supposed to be an expert in the market is trying so hard to incite such panic. Makes me wonder if he has a few short sales out there that he could profit off of?

Either way, this is a grim forecast.


This strategy, which I presume will not be adopted, but which makes the most sense, would allow for shotgun weddings for all the weak banks to eliminate the bleeding. Without this kind of action I am reverting to a downside target of 6,700 for Monday and then 4,700 for Tuesday in keeping with the hopeful '87 playbook.


www.thestreet.com...




posted on Oct, 12 2008 @ 10:35 PM
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reply to post by Karlhungis
 


As a rule of thumb, I believe the opposite of what this bald knucklehead says...if he says its going up...then take it as it is going down, and vice-versa.

I'd rather throw darts at a wall, or have a chimp select stocks then trust this rat-fink.



This guy is the biggest shill for wall street. I'm almost tempted to even think the market may have a small rally on Tuesday, after all Thursday and Friday where heavy selling days.


[edit on 12-10-2008 by Gateway]



posted on Oct, 12 2008 @ 10:41 PM
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It's funny how everyone assumes that the DOW is going to tank next week, when given the word out is Stocks are going to react well to everything that happened this weekend.

Dow Futures

Plus the world markets seem to be doing not so bad so far. I personally think things are going to start getting better slowly now, Looks like we hit the bottom on Friday.

Of course this is just my opinion...

World Markets



posted on Oct, 12 2008 @ 10:47 PM
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reply to post by Trayen11
 


Yeah, I looked at the futures as well. Dow is +204 right now. That doesn't really mean much though, since the market has shown that it is capable of HUGE swings in very short periods of time.

I don't think that Cramer is correct on this. I am mainly just surprised that a media member would say such apocalyptic things right now.



posted on Oct, 12 2008 @ 10:52 PM
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reply to post by Karlhungis
 


You know, I don't have a vengeful bone in my body, but this whole mess has upset me a little, and if it's one guy that I hope comes out of this entire mess penniless is this Cramer guy. I mean this guy has been such a scumbag throughout the years WE should devote a whole thread on how wrong this guy has been...

I hope the mainstream media wises-up and kicks this guy out, and gives somebody with integrity, like Jim Rogers or Schiff their own show. Although I doubt it, the MSM -along with government and wall street love for people to buy buy buy....stocks...and not give it a second thought if assets maybe inflated through manipulation of credit.


[edit on 12-10-2008 by Gateway]



posted on Oct, 12 2008 @ 10:55 PM
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Wow. I seem to be accused of being a "doomsayer" lately, but even I think 4700 is preposterous.

I think we're on track for at least a steady week, if not a decent rally to gain 500-1000points on the Dow. This is, of course, assuming the LIBOR drops.

Asian stocks are mixed, but mostly slightly up. I think that's a good sign. I wouldn't trust the Dow futes for another 6 hours or so. See what they're doing at 6am...it's way too volatile right now.



posted on Oct, 12 2008 @ 10:57 PM
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The DOW only tracks 30 company stocks. The S&P is a much better indicator of how things are going as it tracks the top 500 companies in the exchange.

Consumer spending is more reflected in the S&P as are financials.

That being said, with all the other world governments making the extra ordinary moves this weekend to infuse capital and guarantee bank deposits, I think we have to hold out for the US response.

Will the US follow suit? If so, anticipate a rally, it may be a very short term, or it may be 6-8 months short term, but I would expect a rally IF the US follows the lead of the rest of the world.

If not, all bets are off. No one will have faith in US markets or companies and we might end up seeing that capitulation that the economists keep looking for.

and for 2 more cents, Cramer is almost always wrong


JSR

posted on Oct, 12 2008 @ 11:00 PM
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Originally posted by Gateway
As a rule of thumb, I believe the opposite of what this bald knucklehead says...if he says its going up...then take it as it is going down, and vice-versa.


you know, i have heard more than a few commentators say that about the guy. based on this alone, i say we will have a short rally.

it looks like it may rally for a bit. i dont really have any good evidence to back it up. it just feels that way.

hope im right anyway.



posted on Oct, 12 2008 @ 11:03 PM
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I don't think it will happen. They'll freeze up the market before it gets that low.



posted on Oct, 12 2008 @ 11:04 PM
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It very well might, considering how far it's dropped lately.

However, it may go up due to the emergency meetings held by the world's finance ministers...only to drop down further later.



posted on Oct, 12 2008 @ 11:10 PM
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If it goes up it goes up, but, what also went up this weekend wa several russian ICBM's both land based, and sea based. In addition, cruise missles were tested for the the first time since 1984, and check out the articles on america in the pravda online. Look's like financial meltdown ain't the only kind coming america's way.....



posted on Oct, 12 2008 @ 11:15 PM
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It is going to take substantial positive news to rally the markets at this point. People are afraid of loosing everything that they have invested. Until there is some kind of trust regained the markets will continue to have violent swings and lose a percentage every day. As far as Jim Cramer ..... he is right 50+% of the time from what I can tell. This might be one of his 50%.



posted on Oct, 12 2008 @ 11:17 PM
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Originally posted by Trayen11

I personally think things are going to start getting better slowly now, Looks like we hit the bottom on Friday.


Really?

You mean we have a government policy on renewable energy?

The unemployed and down-sized are being put back to work in huge numbers?

The crippling debt load on American families is starting to lighten?

We have a national one payer healthcare policy?

The national debt is going down?

The confidence of the American people has been restored in the stability of the dollar as if by magic overnight?

The media and government have stoped lieing and manipulating data and the people?

Corporatations have stopped bribing our politicians?

We're winning the war?

My truck gets better gas mileage tommarrow than it did today?

People are beginning to take responsibility for thier actions?

Accountants and CEO's aren't fudging the numbers?

etc

The market might go up briefly, but that is the time to get out.



[edit on 12-10-2008 by In nothing we trust]



posted on Oct, 12 2008 @ 11:20 PM
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Cramer,...gads,..where do I start



I will put it this way, whether it is market sentiment or general direction, or just snapshots of individual stocks...

He gives buy signals or sell signals to his cronies, by the mere words reflecting the opposite of his public suggestions.

I have tracked it, and big movers that he talks about, almost always move the opposite way.


I am not going to profess the direction of the market Monday or Tuesday,..but if I was a betting man, I would most certainly bet against Cramer.



[edit on 12-10-2008 by smirkley]



posted on Oct, 12 2008 @ 11:25 PM
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Originally posted by SpaDe_
It is going to take substantial positive news to rally the markets at this point. People are afraid of loosing everything that they have invested. Until there is some kind of trust regained the markets will continue to have violent swings and lose a percentage every day.


In 1929 the market dropped very quickly.


In 1930 the market went up briefly.


In 1931 the market went down.


In 1932 the market went down.


And in 1933 it almost went to zero.


It took 15 years after 1933 before people got back into the market.

I don't think it is possible to mathmatically re-engineer the great depression in a three or four week period of time.

This might take a few years to work itself out.

But I could be wrong.


[edit on 12-10-2008 by In nothing we trust]



posted on Oct, 13 2008 @ 12:09 AM
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Originally posted by smirkley
I am not going to profess the direction of the market Monday or Tuesday,..

Aah, that's easy. Just follow the guideline set up for Monday and Tuesday trading. Monday and Tuesday are two days, so you solve two equations with two variables.
How?
Just follow this rule:
ceee.rice.edu...



[edit on 10/13/2008 by stander]



posted on Oct, 13 2008 @ 12:12 AM
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Kramer never impressed me either, but what do you all think of this thread?

www.abovetopsecret.com...

posted on 10/6/2008 @ 09:01 AM



MSNBC Mad Money Man Jim Kramer: Get out of the stock market NOW!

The Mad Money Man is telling everybody on the Today Show to get out of the stock market NOW:

today.msnbc.msn.com...

Jim Kramer says stock market will fall by 20% within the next days...



I know many have been saying get out, but he called it pretty close. Did he just get lucky?




posted on Oct, 13 2008 @ 12:25 AM
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Originally posted by sad_eyed_lady
Kramer never impressed me either...

Yeah, it was kinda lame joke. But IMO Seinfeld was more funny than Kramer.



posted on Oct, 13 2008 @ 12:41 AM
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Did some big news or something just get released?
DOW futures are up 300+pts ??????



posted on Oct, 13 2008 @ 12:53 AM
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reply to post by justme2
 


Well, from the sounds of this thread.... people probably heard that Cramer was calling for a huge drop so they bet on the opposite happening and now it is reflected in the futures.


What has irked me the last week or two is watching the futures swing from +300 to -300 in a matter of a few minutes. There really doesn't appear to be any international signs that would indicate a swing into the negative today though.

Who really knows though? I certainly don't.



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