Portugal e outros 13 países assinam posição conjunta contra Política de Coesão centralizada

[Ulisses Pereira]

"Rigor Demands Seeing Downside to Dow 10,000"

By James J. Cramer
12/10/2003 09:58 AM EST



"Oh man, thought I had seen it all. But sure enough, I have complainers and bellyachers telling me that I am unprofessional for turning negative after we got to Dow 10,000.

Doesn't matter that I have spelled out a gazillion times -- and just as often on my radio show -- that I think pigs get slaughtered. Doesn't matter that I haven't liked the makeup of the last 500 points. People want their bulls to be perma. People want price targets raised willy-nilly. People want me to erase really good calls like the exquisite moment by getting behind a reckless call that I don't believe in, namely, saying it's all up from here.


This prognostication business is, first of all, a lowlife business. Sometimes you have a really good inkling, a historical feel and a probability set and you go with it. You call the shot. That's what I did during the commencement of major hostilities -- their words, not mine -- in Iraq.

But if you go around calling shots all the time, you are just a joker. If anyone thinks that I can look at this market after this run and stay as bullish as I have been, well, let's just say you are confusing me with my partner on my television show.

There is rigor to the process. For the rigor to be confused with "unprofessionalism," as one emailer charges, boggles the mind. Heck, man, I am glad as all get-out that I got it right. But I am not a dancing bear, or a dancing bull. I am placing big bets when I think the odds are in our favor. I am stepping away from the table when I think they are stacked against me.

So be it. "

(in www.realmoney.com)