Cramer- "Don't Fear the Net Trio's Froth"
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Ele está bull desde que a Guerra terminou. Eu não ia muito com a cara dele mas tem estado muito bem nestes ultimos tempos. Tem andado constantemente a comparar isto com 1991 e desde o fim da guerra tem estado sempre a falar do novo bulll market. Na altura achei um bocado patetico mas realmente tem estado com o tiro na mouche certa.
Por acaso a melhor coisinha que fiz nos ultimos tempos foi ter-me tornado assinante do realmoney. Obrigado Ulisses por me teres despertado este interesse no site.
M.Magalhães
Por acaso a melhor coisinha que fiz nos ultimos tempos foi ter-me tornado assinante do realmoney. Obrigado Ulisses por me teres despertado este interesse no site.
M.Magalhães
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M.Magalhães
Cramer- "Don't Fear the Net Trio's Froth"
"Don't Fear the Net Trio's Froth"
By James J. Cramer
05/13/2003 03:09 PM EDT
"eBay, Yahoo! and Amazon just don't quit. I know what you are thinking: This is unhealthy, repulsive and a sign of incredible froth.
To which I say, it is unhealthy, repulsive and a sign of incredible froth unless you are long these stocks.
I hate to be so owner-centric here, but understand that part of a "bull" market is the ability of some stocks to defy logic seemingly forever. Nobody disputes that we were in a bull market in the late '90s. Of course, it became a toxic bull market as stocks with poor fundamentals kept ramping. But it started when stocks with good fundamentals kept ramping.
For example, if I were writing this column in 1995, I would be bemoaning the almost nonstop rally in Cisco or Intel or Microsoft. That's just a feature of a market. As long as it doesn't become the dominant feature, we are OK.
I am sure that to some of you, I sound like someone who has a rationale for everything, and that I am the enabler for the bulls. Not true. In fact, I marvel that the Y-E-A market (Yahoo!, eBay, Amazon) hasn't broadened out. As long as it is contained, I think it is no healthier or frothier than just about every other bull market I've seen. In fact, action like what we have today, where some leaders rally but the market enjoys a healthy pullback, are just about as perfect as you can get!
No bull markets are ideal. Throughout the '80s and the '90s, it was perfectly possible to find five or six things that were simply horrid about the market.
But look what it did.
If you want to panic about something, panic about the Treasuries. Despite every sign that things are getting better, they won't quit.
But don't panic about the YEA complex. That's just one of the quirky characteristics of an otherwise healthy market. "
(in www.realmoney.com)
By James J. Cramer
05/13/2003 03:09 PM EDT
"eBay, Yahoo! and Amazon just don't quit. I know what you are thinking: This is unhealthy, repulsive and a sign of incredible froth.
To which I say, it is unhealthy, repulsive and a sign of incredible froth unless you are long these stocks.
I hate to be so owner-centric here, but understand that part of a "bull" market is the ability of some stocks to defy logic seemingly forever. Nobody disputes that we were in a bull market in the late '90s. Of course, it became a toxic bull market as stocks with poor fundamentals kept ramping. But it started when stocks with good fundamentals kept ramping.
For example, if I were writing this column in 1995, I would be bemoaning the almost nonstop rally in Cisco or Intel or Microsoft. That's just a feature of a market. As long as it doesn't become the dominant feature, we are OK.
I am sure that to some of you, I sound like someone who has a rationale for everything, and that I am the enabler for the bulls. Not true. In fact, I marvel that the Y-E-A market (Yahoo!, eBay, Amazon) hasn't broadened out. As long as it is contained, I think it is no healthier or frothier than just about every other bull market I've seen. In fact, action like what we have today, where some leaders rally but the market enjoys a healthy pullback, are just about as perfect as you can get!
No bull markets are ideal. Throughout the '80s and the '90s, it was perfectly possible to find five or six things that were simply horrid about the market.
But look what it did.
If you want to panic about something, panic about the Treasuries. Despite every sign that things are getting better, they won't quit.
But don't panic about the YEA complex. That's just one of the quirky characteristics of an otherwise healthy market. "
(in www.realmoney.com)
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