Cramer's Stop Trading! It's a Horrible Market (11/18/08)

Stocks discussed on Jim Cramer's Stop Trading! program Tuesday November 18.

Hewlett Packard (HPQ), Home Depot (HD), Sears (SHLD), Loews (LOW), ExxonMobil (XOM)

 “This is a horrible market” vented Cramer who listed a multitude of issues plaguing the economy. Cramer was hoping the rally sparked by Hewlett-Packard and Home Depot’s quarters would be sustainable, but the Dow closed only 1.8% up. Concerning retail, Cramer deferred to the wisdom of his father who ran a business; “Never go into retail” because when the economy is slow it is an “immensely difficult” sector to be in. He added Loews and Sears are two “tells” for the entire sector. In the oil sector, Cramer thinks Exxon is a “tell” and admits his mistake in predicting a bottom in oil when the "stocks were right ... and beat the hell" out of him. However, he noticed Exxon is not dropping anymore which may be a good sign.

 

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Comments

[bobbobwhite:]

Cramer is exactly right when every sign points in flashing neon lights to the exact right answer, but most of us would be right in that case too. In reality, Jim is in his element on TV and is making great money from GE as an entertainer now and not a stock picker, and the old time jazz singer Al Jolson's famous line of "you ain't seen nothin' yet" is as appropriate for this 21st century Barnum known as Jim Cramer as it was for Jolson then.

The trick is to understand that and not take any of his act seriously. He is an entertainer first, and everything else second.

2008 Nov 19 10:05 AM

[billp37:]

"We are witnessing nothing less than the wholesale destruction of pretty much every single financial company in the country and it is happening with breathtaking speed. "

Cramer's statements on PRU, HIG, ... have scared retirees who get monthly annuity checks.

www.bloggingstocks.com.../

2008 Nov 19 10:06 AM

[BerkeleyBob:]

Retirees who get monthly annuity checks should be concerned--ask the beneficiaries of Executive Life structured settlements.

2008 Nov 19 01:14 PM

[BlueOkie:]

We are having Bi-Partisan socialism!

2008 Nov 19 03:53 PM

[Kunst:]

Jim Cramer is to investing what Rush Limbaugh is to social policy.

2008 Nov 20 12:00 AM

[jse17:]

Correct, sort of, but Jim has a Harvard Law degree and Rush flunked out of S.E. Missouri State College after his first year of “matriculation”!


On Nov 20 12:00 AM Kunst wrote:

> Jim Cramer is to investing what Rush Limbaugh is to social policy.

2008 Nov 20 09:22 AM

[dsrtwriter:]

Not really. Cramer is wrong most of the time.People listen to him and lose money.

Rush's insights,often painfully true to the left, are so often correct.People deny it and then see his predictions unfold.The very Democrats who blame the Bush administration for the financial crisis do not want to hear that Barney Frank and Chris Dodd,both in powerful banking committee positions, consistently refused to proceed in the past with the stricter oversight on Fannie Mae and Freddie Mac recommended by Adminstration regulators.

Barack received huge PAC contributions from Fannie Mae. His Chief of Staff, Rhom Emmanuel, a very capable and bright guy, returns to join Barack after several years of high salaried "work" in a cushy position with Fannie Mae.


But I know all the Bush haters don't want to be confused with these facts.
On these facts, Rush is much more correct than Cramer ever is with his financials.

2008 Nov 20 12:26 PM

[lumberhack:]

Everything that has transpired in the last month reminds me of a show intro on Sci-Fi television. A show came on and the announcer states inphatically "Be afraid, be very afraid". The bad part is that the horror of what is going on will not end in an hour, a day, month, or even a year. I feel that we will see the effect of what the congress is doing now will be felt for many years. Capitalism, and free markets are almost gone. Although it was under a Republican president the congress, democratically controll is destroying the free enterprize system. In free enterprize badly managed companys fail, they disappear they are replaced by more technologically, more organized, more efficient business's. So in the next two years I have one question. When do we start calling each other comrade as is so well entrenched in the Socialist world. I reiterate what that announcer was saying. "Be afraid, be very afraid."


On Nov 19 10:05 AM bobbobwhite wrote:

> Cramer is exactly right when every sign points in flashing neon lights
> to the exact right answer, but most of us would be right in that
> case too. In reality, Jim is in his element on TV and is making great
> money from GE as an entertainer now and not a stock picker, and the
> old time jazz singer Al Jolson's famous line of "you ain't seen nothin'
> yet" is as appropriate for this 21st century Barnum known as Jim
> Cramer as it was for Jolson then.
>
> The trick is to understand that and not take any of his act seriously.
> He is an entertainer first, and everything else second.

2008 Nov 20 01:24 PM

[bobomite:]

ROFL

"...Rush is more correct than Cramer..."

Is this like the whole "Superman can beat Spiderman" debate?

2008 Nov 20 03:25 PM