Tuesday, September 15, 2009

Cramer Believes in the Rally and Much More

CNBC's Mad Money host Jim Cramer just can't understand why people are so negative. He says the housing market is doing great, and will do well even without the government subsidy ($8000 first-time buyer credit), cash for clunkers was such a success. Retail is thriving, banks are solid.

So here it is, Jim Cramer on Mad Money Monday September 14, 2009, one year anniversary of Lehman Brothers bankruptcy which triggered... we know what, don't we?

I am still very much long the market, although I've started to trim my positions by selling partially. I don't believe in the rally when the government is spending like there's no tomorrow (there will be no tomorrow very soon at this rate), sucking up private capital from productive citizens and corporations. The stock market is not the economy, and I'm simply watching the technical parameters so that I can exit before @#$% hits the fan again. Ever since I went gradually long in mid March, the technical levels I'm watching are still not breached.

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