Cramer: "A Short-Seller's Dream"
Cramer: "A Short-Seller's Dream"
"A Short-Seller's Dream"
By Jim Cramer
RealMoney.com Columnist
7/10/2006 3:05 PM EDT
"What a sucker play this market is. It just makes you look like a total chump.
You buy because you see Europe's okay and you think the selling's over. But everyone else buys, too. Then when it goes down, you say, "I know when it goes down it gets crushed" so you blow things out at any price.
Meanwhile, the Nasdaq is a short-seller's dream. You can pressure that thing down with Nasdaq 100 Unit Trust (QQQQ - commentary - Cramer's Take) sales and just watch the decline, as you join in and accentuate the pain.
Hence, why I keep relying on Helene Meisler and the oscillator. The moment we got to plus 4, like we did last week, you knew you were history if you were in something weak. Meanwhile the Kellogs and the General Mills and the Walgreens tempt us with their advances.
What a carbon copy of 2000!
The action is so abysmal in the Nazz that you have to believe we could catch a short-covering rally. But given that we are not oversold, it is unlikely to do anything more than disrupt the shorts for a couple of hours.
You simply have to let this market come down. The Nazz, for example, just took out the pre-Fed low.
I think that means the S&P 500 (SPX) has to come down more but will do better than the Nazz because anything could do better than the Nazz.
Truly an awful tech tape and a terrific staple-goods tape. Again, 2000. "
(in www.realmoney.com)
By Jim Cramer
RealMoney.com Columnist
7/10/2006 3:05 PM EDT
"What a sucker play this market is. It just makes you look like a total chump.
You buy because you see Europe's okay and you think the selling's over. But everyone else buys, too. Then when it goes down, you say, "I know when it goes down it gets crushed" so you blow things out at any price.
Meanwhile, the Nasdaq is a short-seller's dream. You can pressure that thing down with Nasdaq 100 Unit Trust (QQQQ - commentary - Cramer's Take) sales and just watch the decline, as you join in and accentuate the pain.
Hence, why I keep relying on Helene Meisler and the oscillator. The moment we got to plus 4, like we did last week, you knew you were history if you were in something weak. Meanwhile the Kellogs and the General Mills and the Walgreens tempt us with their advances.
What a carbon copy of 2000!
The action is so abysmal in the Nazz that you have to believe we could catch a short-covering rally. But given that we are not oversold, it is unlikely to do anything more than disrupt the shorts for a couple of hours.
You simply have to let this market come down. The Nazz, for example, just took out the pre-Fed low.
I think that means the S&P 500 (SPX) has to come down more but will do better than the Nazz because anything could do better than the Nazz.
Truly an awful tech tape and a terrific staple-goods tape. Again, 2000. "
(in www.realmoney.com)
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