Cramer- "Stay Poised to Make Sales"
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Cramer- "Stay Poised to Make Sales"
"Stay Poised to Make Sales"
By James J. Cramer
03/26/2003 10:26 AM EST
"We are still in the "despair-to-realist" phase, and I don't think we have come to accept that the casualties could be large as we take Baghdad. Until that "realist" phase is built in, and unlike those who are saying it is built in, you have to keep your finger on the trigger because we don't want to give up all of last week's gains.
Again, that doesn't mean the virtuous cycle is dead. It just means that it won't go as high until the war is over, and that it is pushed out in time. The aftermath won't be helped by the cutting of the tax break for dividends.
When will we know when we are in the realist phase? I think that we are getting some big help from the armchair generals who were so bullish a week ago and who now are coming out of the closet to say things aren't so good. They are tamping the expectations as well as the analysts who try to generate upside surprises.
Still, we have to take the upward bias of the market when we can to trim back big gains (I just took some profits this morning on my Action Alerts PLUS account at or near the highs for this period). We have to do that until we see a battle that doesn't go perfectly and the market says "You know what, that's what happens when you try to topple one of the worst leaders ever," and has a contained selloff instead of something ugly like we had Monday.
Why is the market not getting hit hard here?
Current battles are going well.
Quarter-end markup.
Tax-plan not totally dead, just scaled back.
Retail investors don't want to miss another week like next week. "
(in www.realmoney.com)
By James J. Cramer
03/26/2003 10:26 AM EST
"We are still in the "despair-to-realist" phase, and I don't think we have come to accept that the casualties could be large as we take Baghdad. Until that "realist" phase is built in, and unlike those who are saying it is built in, you have to keep your finger on the trigger because we don't want to give up all of last week's gains.
Again, that doesn't mean the virtuous cycle is dead. It just means that it won't go as high until the war is over, and that it is pushed out in time. The aftermath won't be helped by the cutting of the tax break for dividends.
When will we know when we are in the realist phase? I think that we are getting some big help from the armchair generals who were so bullish a week ago and who now are coming out of the closet to say things aren't so good. They are tamping the expectations as well as the analysts who try to generate upside surprises.
Still, we have to take the upward bias of the market when we can to trim back big gains (I just took some profits this morning on my Action Alerts PLUS account at or near the highs for this period). We have to do that until we see a battle that doesn't go perfectly and the market says "You know what, that's what happens when you try to topple one of the worst leaders ever," and has a contained selloff instead of something ugly like we had Monday.
Why is the market not getting hit hard here?
Current battles are going well.
Quarter-end markup.
Tax-plan not totally dead, just scaled back.
Retail investors don't want to miss another week like next week. "
(in www.realmoney.com)
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