 4/10 Good --- bac.bloggingstocks.com http://bac.bloggingstocks.com/rss.xml
Wednesday, October 01, 2008 --- 65 days ago http://www.bloggingstocks.com/2008/10/01/cramer-on-bloggingstocks-short-sellers-
 Filed under: Ford Motor (F) , General Motors (GM) , Short stories , Market matters , Citigroup Inc. (C) , JPMorgan Chase (JPM) , Bank of America (BAC) , Federal Natl Mtge (FNM) , Goldman Sachs Group (GS) , Morgan Stanley (MS) , Amer Intl Group (AIG) , Wachovia Corp (WB) , Wells Fargo (WFC) , Cramer on BloggingStocks , U.S. Bancorp (USB) TheStreet.com's Jim Cramer says if you're short, you don't want the bill passed. Let's look at that perspective. First, let's make an important point: Nothing from Congress is going to make this market go up. We need the market go up because it is cheap and it attracts buyers, and because there are companies out there that are worth more than they are trading at -- perhaps as private companies, perhaps as investments right now, if anyone had cash and confidence. Right now it seems there is neither. All we have are the futures, on stocks and on oil, and they bounce around and we do what they tell us at the start. Then the hedge funds come in and start selling because of their broken models and their redemptions. Then the short-sellers come in and figure out ways to knock down things. Then the rumors start about another bank failure and then we go down. I want to break that spiral because I own stocks. If I am short stocks, I love the spiral. Now, the bill in Congress does not break the spiral by any means. What breaks the spiral is a sense that the system is not falling apart, which it most certainl ... |
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