Cramer: "Nibble on This Market"
Enviado: 22/10/2007 14:31"Nibble on This Market"
By Jim Cramer
RealMoney.com Columnist
10/22/2007 9:49 AM EDT
"The market is not Texas Hold 'Em. It is not "all in." People want to make it out to be that way, but that's not how things work.
You buy small. You kick out some stuff into strength. You begin to cover some positions. You look for strength. You try to find stocks that got taken down with the market that would otherwise be up.
And then you don't pounce. You nibble.
I used to say that those people who go all in were folks who were willing to "risk the franchise." Go read Doug Kass' excellent opening pieces this morning on RealMoney Silver if you want to know what that is up close and personal.
The idea of being "all in" is pure hubris with a hefty dose of arrogance. Who knows where things will stop?
I like a market that is down big, as long as you aren't buying stocks that have severe balance sheet stress -- which is most of the banks! I like the characterization that most companies reported bad quarters, because that's a mischaracterization.
And I like the coming oversold nature of the tape.
So I want to pick.
But not do more than that."
(in www.realmoney.com)
By Jim Cramer
RealMoney.com Columnist
10/22/2007 9:49 AM EDT
"The market is not Texas Hold 'Em. It is not "all in." People want to make it out to be that way, but that's not how things work.
You buy small. You kick out some stuff into strength. You begin to cover some positions. You look for strength. You try to find stocks that got taken down with the market that would otherwise be up.
And then you don't pounce. You nibble.
I used to say that those people who go all in were folks who were willing to "risk the franchise." Go read Doug Kass' excellent opening pieces this morning on RealMoney Silver if you want to know what that is up close and personal.
The idea of being "all in" is pure hubris with a hefty dose of arrogance. Who knows where things will stop?
I like a market that is down big, as long as you aren't buying stocks that have severe balance sheet stress -- which is most of the banks! I like the characterization that most companies reported bad quarters, because that's a mischaracterization.
And I like the coming oversold nature of the tape.
So I want to pick.
But not do more than that."
(in www.realmoney.com)