Cramer: “Buy Anything But Banks”, StockBlade Yesterday: LONG Financials. Result? Financials Led The Market To Huge Rally

April 2, 2008 8:32 AM

We like to point out differences between us and the Talking Heads when there are clear differences of opinion. Cramer has been relentless in his mantra to avoid banks, buy gold, etc etc for weeks. What did we say? AVOID commodities, AVOID gold related, and LONG financials - the exact opposite.

StockBlade let’s the “market” tell us what is right and what is wrong, not the Heads. Financials were probably the number one sector yesterday up over 7% and we called it at the open saying “financials should lead the market higher and are the lead dog today”…..and AEM was one of only 13 SP stocks down on the day.

I think I want a raise….

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Our Call At The Open: LONG Financials, SELL Commodity Based Stocks - Bingo

April 1, 2008 1:09 PM

I said right at the open…”financials should lead us higher today and are the “lead dog” today….AND to AVOID ALL commodiy based stocks…..

XLF up 7.12%

AEM down 4.59%. One of 13 stocks in the SP down today…and StockBlade called it…

That was about as precise as possible….Cramerica followers need to tune in to my site once in a while…they are getting CRUSHED on his raging bull calls on gold and to a lesser extent other commodity stocks…..

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Homebuilders - Short covering, as I said…Cramer is wrong

March 27, 2008 1:26 PM

I posted a few days ago that housing/homebuilders was nothing more than a short covering rally and to avoid. Cramer was roaring his bull on these…I said wrong, wrong, wrong. They got crushed yesterday. That is still the case and all are a a strong avoid, IMO. This is a bear value trap and Cramer is 100% wrong, IMO.

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Cramer is Wrong on Housing - Again

March 25, 2008 1:33 PM

Cramer’s call that we have or are seeing a bottom in housing is dead wrong. I said many, many months ago (almost a year, I think) on his and one of the Fast Money boys call to be long FNMA, etc. was dead wrong and FNMA has been brutally crushed since, to say the least. Let’s hope you were eating dinner and not watching that show… or you are probably eating generic tuna for dinner now. I would take that call and roll it up in a nice neat ball….and swish it.

The issue on housing is not like hitting a bottom on a stock and reversing. The issue is affordibility. In CA for instance, affordibility dipped below 10% or in that range, at one point. That means that ONLY 10% of the of the population could afford to pay the mortgage on the median priced home. The reason for this was the explosion of “exotic” mortgages that led to the “paper” housing boom. Prices were not supported by fundamentals and still aren’t. Historically, ALL housing booms were nearly 100% correlated with incomes. The only exception to that was the most recent boom that was “created” by changing the paper that determined prices - temporarily. SP Schiller housing index once again showed record declines in prices…..

I said a year ago housing and related stocks were going far lower, I said it again 6 months ago, and saying it again - NO bottom. Even in the very unlikely event that we have seen the bottom, to get excited about that sector you would have to see improvement. That isn’t happening anytime soon. If a recession worsens, it won’t happen at all. This is at least a 5 year problem I believe, possibly longer, not 1 year. The rally in this sector is short covering, nothing more. Those stocks are massively short and the easy money was made…so they are taking some off the table. It is as simple as that.

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Stocks that I have mentioned to be careful long….

March 24, 2008 1:12 AM

I have mentioned a number of stocks in the last two weeks to either avoid long, be VERY careful long, or to flat out short them. All have got crushed in recent days.

JOYG: I said short it the day after it made an all time high of $72. Today $62.04

WLT: I said short it the day after it made an all time high of $61.20. Today $54.10

CHK: I said short it (twice) after it made all time highs at $49.87. Today $44.29

MON: I have strongly said avoid, avoid, avoid a number of times….it has plunged to a low of almost $90 Thursday

AEM: I said it was an implosion waiting to happen and to wait for a short signal. It has plunged from a high of $83.45. Today $67.19.

These are all moves within ONE week…and shows why you will eventually lose “following the crowd”, especially the crowd that is making raging bull noises on tv…. If you had bought all of these, you would be down over 15%….in ONE week….not good.

That is why I said short, avoid…or both……….. and Cramer was screaming long on both CHK and AEM….hmmm

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Why You Can Never Win Listening To Talking Heads

March 23, 2008 4:48 AM

We give you firm numbers on trades/investing to be long or short based on what I see traders likely doing when that level is reached or exceeded. To be fair, Cramer and others with millions of listeners cannot do that. Why? If they did, the professional traders would simply trade against them if they wanted to take it in the other direction. Bsically, they would slightly exceed that number and “whipsaw” all of their listeners by taking out their stops.

Therefore, tv personalities like Cramer, are at a huge disadvantage in trying to give their listeners sound trading/investment advice and cannot say “buy it here unless it goes below $82.00″. That is assuming they are even trying to.

On the other hand, if StockBlade says “short AEM at $80 with a hard stop at $82.50″, we do not have enough of an audience to gain the big “player’s” attention…. We are playing their game….without ruining their game.

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Cramer discussing AEM: Don’t like the food here? Here is another BIG plate….

March 20, 2008 4:00 AM

A caller called on AEM tonight and asked what to do with AEM as he just bought it yesterday. Cramer’s advice….buy more as it falls.

My advice would have been to sell it yesterday at $80 and let other’s hope. I would have said short it in reality if I had been watching it.

He still was pounding the table that gold is going to $1600. It might, it might not. I have no idea and don’t much care one way or another - today. Gold could go to $1600 or it could go to $500. All I know is that yesterday the market said sell AEM and/or short it. My readers would be out of AEM at $80, his would be long at $68 and falling fast…..

And yesterday was the worst possible day to buy AEM as the chart was screaming to short it. I honestly feel sorry for the caller who had listened to Cramer, especially since the advice is to hang in there and buy more as it falls. As it falls? Are you kidding me? Too bad that guy didn’t read StockBlade.com, he wouldn’t be in that trade.

Doubling down or buying more when you are WRONG is like eating at a restaurant and hating the food…and they offer you another BIG helping….

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Commodity Based Stocks…

March 19, 2008 9:16 PM

I said last night that commodities looked like they were going to roll over here. They all got BLASTED today. I said roll over…they rolled over and died. But it is a worldwide commodity bubble, IMO, so the plunge didn’t surprise me. That led to the market slide today. The only thing that has held this market up….the only real market strength has been commodity based stocks…oil, gas, corn, etc.

That was another reason I said to get short CHK. I was simply waiting for the chart to confirm the entry point to short it (again) and this morning was it…

Cramer was jumping on the table earlier this week saying gold was going to $1600 and to buy gold stocks, etc. Long term, who knows….but I do not trade hype or hope.. (my theme song, if you have not noticed)… All I know is AEM is down 20% plus in two days and his lemmings are getting CRUSHED on that trade….. My earlier posts said to avoid it and wait for another chance to get short…. 20% in two days? That is a bad decade let alone 2 days…

I watch the market to see what is really going on….you can watch tv if you wish…

Written by · Filed Under AEM, CHK, Cramer, General Investing/Trading Commentary, General Market Comments, Winning Trades | Leave a Comment

Fast Money and Talking Heads - what comedy

March 19, 2008 9:04 PM

I like to watch all the talking heads just so I can comment on them and possibly trade against them if I see something… and for pure entertainment value in trading against them…

I should have writen down each day and their nonsense on Fast Money for the last week…but they LITERALLY have changed their tune EVERY day…I mean it is comical.

Remember the huge rally last week and what Cramer was yelling? “This rally should last weeks” or whatever. All the Fast Money boys were jumping up and down all excited… I said…hmmm…I see one more day….it plunged 2 days later.

Last night, they were all pounding the table …long, long, long…we hit the bottom…this is great…bla bla bla.

What did I say? Not so fast….I have never seen a bottom without a reversal off the SP low…NEVER. So as I have mentioned…trade the market, but careful on the kool-aid.

I am not saying fight the tape….but to jump up and down and then come on today after the market gets pounded and have them totally changing their tune every single day is comical.

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CHK: Call to short it this morning at $47.50…

March 19, 2008 8:03 PM

Just after the open I posted to short CHK at $47.50 and said it should not clear $48……hmmm down a mere $3.70 ( 7.7% )…. I have mentioned since friday night that the trade on this stock was to wait for a chance to get short (again). I saw that chance this morning…. I also said to short on Monday for a 4% gain. Today was a little easier.

I also mentioned that if it stayed low that the pressure should be on later…BINGO. I smelled at least $44 on this stock sooner rather than later…but didn’t expect it today…ha.

Cramer’s roaring bull call on CHK Friday is beginning to grill…but is only medium rare thus far. I think the bull should be cooked to at least medium well…

If it gaps down tomorrow…look for any sign of going positive into the close. If it can get positive after a spike lower, you may want to take 50% off the board. If it opens higher, it is simply another chance to put another hammer to it…or should I say…BLADE

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