"TAP não sobrevive se se mantiver pública", garante Pinto Luz

[Ulisses Pereira]

"Wait for Things to Get Ugly"

By James J. Cramer
09/26/2003 10:06 AM EDT


"Declines and corrections don't end with the market opening flat to weaker and then rallying.

They also don't end with the market taking off at the opening and staying up.


Nor do they end with the market opening nicely higher and then faltering.

They end ugly. They end when The New York Times writes about the selloff above the fold. They end when USA Today has a bear on the cover. They end when The Wall Street Journal leads with the stock losses.

None of these has happened.

Enough said."

(in www.realmoney.com)

[Ulisses Pereira]

Cramer continua a defender quedas nas próximas semanas mas, segundo ele, quedas normais que, daqui a umas semanas vão ser oportunidades excelentes de compra.


"Just Wait Out This Garden-Variety Selloff"

By James J. Cramer
09/26/2003 09:33 AM EDT


"Support levels crushed! Charts showing dive, dive, dive! Look out below! Here it comes, the tsunami!

Oh, give me a break. This is one of the more garden-variety selloffs I have seen.


They all seem like tidal waves when you are in the middle of them, and the 3%-5% that's been clipped so far doesn't feel good.

But when we put it in the context of all of the other selloffs that have been endured after the September expiration, it's, well, just like the rest of them.

Sure, there is the added uncertainty that Bush seems to be in trouble, even as his apologists now point to whole new surveys that show job growth booming. Don't you love that? Don't you love it when we decide that the non-farm payroll number isn't good enough, even though it was good enough for the last decade?

And nobody rates the post-Iraq experience "better than expected" -- well, check that; there is a handful of people saying that, even though soldiers keep getting killed, there are no weapons of mass destruction and the oil -- far from paying for itself -- is actually losing money, net, after infrastructure adds.

Still, can we remember that there are things at work that are still positive? We haven't had the spike to 5% on the bonds. In fact, we have had the dive to 4%. We haven't had the big housing slowdown, the big retail slowdown or the big tech slowdown, although the Verizon (VZ:NYSE - commentary - research) earnings did hurt telecom. We haven't had the oil spike.

What we have had is a decided lock-in from plus-40% Nasdaq levels that seems to me as prudent a selloff as can be imagined. We have had some bruised feelings from massive dividend cuts and huge earnings misses -- thanks, Tupperware.

But beyond that, it is business as usual and if people would simply stop worrying about price and start focusing on time -- the time to get to the second week in October, when I suspect we will be out of this morass -- then we can get on with the worrying and handwringing at hand without panic. Our two friends are the calendar and the oscillator. When one reads the second week of October and the other reads minus 5, I will sound an all-clear, and those of you still worried about the charts can start buying, too. "

(in www.realmoney.com)