Wednesday, July 23, 2008
Another Classic Turnaround by Cramer
Just a quick note to Jim Cramer's army:
Here's a quote from a couple of weeks ago:
"Sell everything. Nothing's working. Revisit when the prices are adjusted for a big recession, soaring inflation and a crushed consumer. Sell at 12,000 and come back at 10,000. Even better: short it." -Jim Cramer. June 27.
Now, here's his quote from last night:
"I need you to stop reacting to only the earnings and look at the bigger picture: the prices of oil and gas and the newfound health of banks," he said. "This market's a buy." -Jim Cramer, July 22.
Now I think he does a great service by getting people interested in investing. But if you think you can make money from following his daily recommendations, you're going to figure out that lesson the hard way. Here's my post from a couple of weeks ago.