Jim Cramer Sell Recommendation a Strong Buy Signal
Oct 6th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsStock ‘guru’ Jim Cramer says it’s time for investors to get out of stocks.
According to a report on MSNBC, Cramer told Ann Curry on TODAY Monday: “Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe that you should risk those assets in the stock market right now.”
The Big Picture blogger, Barry Ritholz, says Cramer’s strong sell recommendation could be a strong buy signal for contrarian investors.
As I have said in the past, I don’t like to harp on any one person. I also don’t want to be a Cramer stalker. But DAMN if that headline doesn’t smell like a giant buy signal.
The market down 30%, the VIX spiking to 56, and Cramer giving a panicky SELL on TV this morning. We have a 9,500 downside target, and the likelihood of an emergency action makes us want to get long — at least for a trade . . .
We are putting a toe in the water here.
Click on the following link to watch Cramer’s sell recommendation.
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So on Monday Cramer said to sell, and you took that as a sign to buy. Hmmmm… how’s that workin’ out fer ya now that Friday’s here?