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Only a sucker would get into the stock market now, Gerald Celente says: "All they can say in the...

  • Friday, October 14, 2011, 6:25 PM ET
    Only a sucker would get into the stock market now, Gerald Celente says: "All they can say in the mainstream media is that it’s a buying opportunity as they sucker people back into these markets. Did you ever hear them say, ‘It’s a selling opportunity?’ Not one of them, they’re a bunch of whores." The Wall Street protests are a sign that people are starting to realize this, he says.
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This news story has 23 comments:

  •  
    Chalk me up for the "Sucker List".
    If Mr. Celente knew anything about the market he would realize that this really is a great buying opportunity.
    I have heard Jim Cramer yell "Sell" on his show. Is Mad Money considered mainstream media?
    Network television would certainly not tell viewers to buy stocks. So I'm guessing CNBC would fit his category.
    I've seen the protestors with their cell phones and sweatshirts and I am enjoying the show as I am long Apple and Under Armour! Keep on marching!
    14 Oct 2011, 06:41 PM Reply Like
  •  
    cramer yells sell then buy a day later . cramer told you the scam , he uses his station as a platform to help his hedge fund friends.

    have you ever looked into cramers portfolio ...not pretty.

    i like aapl ....ua is too expensive .
    14 Oct 2011, 10:17 PM Reply Like
  •  
    I'm on the sucker bandwagon.... thoughI prefer being long Apple, Google, Ford & Wolverine World Wide... same general premise, though.
    14 Oct 2011, 10:21 PM Reply Like
  •  
    You could think about the global banking situation in this way, by keeping the market positioned on the tip of a needle it is extremely easy to manipulate. Driving the market up is easily justified by the numerous news articles we have heard during the last few weeks "hope articles" while it is just as easy to drive the market down with new horror stories about the lack of funds that banks and entire nations are facing. If you consider the fact that the Fed and co. has un-auditable insider trading possibilities they should be able to suck all the cash out of the market that they will ever need. Considering that they have been at it for 100 years they should also have "some savings" stashed away by now.
    I would say that the current market is a central bankers wet dream just like instability in the middle east is necessary to control the oil reserves in the region.
    When a central banking system is working for decades (this situation is not new) towards a result as the one we are facing now then such thoughts must logically enter a open mind.
    14 Oct 2011, 06:57 PM Reply Like
  •  
    It's become very bullish very quickly. The shorts were massacred the last 8 days. The last time so many became overly bearish we reversed course. Now they are bullish talking about great earnings, oversold conditions, monster rally into Nov, S&P to 1,400 by year end - so, you guess what's next? I'd say back to the bottom of the range at 1,070. Next week will be most telling.
    14 Oct 2011, 10:08 PM Reply Like
  •  
    I assume next to no one protesting Wall street, day in, day out actually has anything invested in the market at all. Not because somehow investors wouldn't be in opposition with a lot that happens in the market but because the protesters clearly don't work. Therefore, I doubt these protests are in any way about Wall street marketing false signs to investors. Let's also not forget there are plenty of short selling firms that do market shorting the market. They just happen to be outnumbered by people that only go long. The real fiends are business shows like CNBC that almost always have a bullish bias which they see as their bread and butter to locking in to more viewers.
    14 Oct 2011, 07:01 PM Reply Like
  •  
    CNBC talks about bad news just as much as good news. What are you people talking about? I DO hear them say sell or take profits quite often.

    Wall street protesters are there because the rich are getting richer and poor getting poorer- DUHHH.
    Why is Congress allowed to retire with full pensions after just 1 term? Why did CEO banksters take bonuses right after they were bailed out with TARP? People are getting nickle and dimed while big whigs line their pockets. These are the things people like me are pissed off about. The difference in wealth amongst people is getting too high!!!
    14 Oct 2011, 08:12 PM Reply Like
  •  
    I would disagree with the assumption that "a sucker" would want to invest. The right firm, right plan of action, and the right person for the client would easily want to continue to invest in our storied firms. JP Morgan's and Google's results are encouraging with regards to the direction our country is headed as far as business is concerned. CNBC and CNNMoney do a fantastic job covering every minute detail of our global markets.
    14 Oct 2011, 07:06 PM Reply Like
  •  
    I don't watch TV. And I don't use firms. But I'm actually rather happy with the way my "Sell in May and Go Away," buy back in during the most dramatic August & September abysses I had the patience to wait for have worked out for me. I also do ludicrously absurd amounts of research & due diligence.

    I wish I could say the same for my significant other's money manager.... Zero large cap tech purchased during all those dramatic dips? I almost cried while browsing.
    14 Oct 2011, 10:27 PM Reply Like
  •  
    Give me a break..."buy and hold" is long gone...you buy the dips, sell the peeks, based on technical chart analysis....learn how to yourself, or if you can't or don't want to, hire someone to do it for you...
    14 Oct 2011, 07:17 PM Reply Like
  •  
    "Buy and hold is long gone". I would say that there are plenty of investors buying and holding dividend paying stocks. I certainly do this.
    How would you apply your technique to Apple? I have held this stock and others in portfolio for years.
    Paying someone to manage my stocks does not appeal to me in the least.
    I have bought stocks that I considered speculative positions. I would agree with you for stock in this category. JVA is one that I bought low and sold near their all-time high.
    Perhaps a mix of buy and hold and buy the dips/sell the peaks could work for investors?
    14 Oct 2011, 08:42 PM Reply Like
  •  
    I would argue that yes, buy and hold "indefinitely" might be dead. But if you buy & hold & continue doing due-diligence on what you've bought & what is going on both within the company and at how they might fair given whatever the current macro situation is.... you can effectively maintain reasonable returns until it is time to move on to the "next thing" on a big dip..... Just my opinion though.
    14 Oct 2011, 10:30 PM Reply Like
  •  
    Glad you said it and not me!
    Last time I railed like this I got a "Time Out" from Seeking Alpha.
    You are spot on my friend,risk reward is clearly to the downside.
    Jerry
    14 Oct 2011, 08:08 PM Reply Like
  •  
    HE's right, everyone on CNBC is pretty much a whore for the street and govt. except for Santelli
    14 Oct 2011, 08:12 PM Reply Like
  •  
    God bless Rick Santelli, the father of the "Tea Party" movement.
    Anyone who says CNBC doesn't have a definite bias toward the bullish is not being honest, just as Steve Liesman is not and don't even get me going on Greenberg or God Forbid John Harwood with regard to the Obama administration...
    Jerry
    15 Oct 2011, 01:44 AM Reply Like
  •  
    I wonder if CNBC's porfolio is heavily weighted to incur a profit when the stock market increases, "bullish". Then their bias would definitely be justified.
    18 Oct 2011, 10:37 AM Reply Like
  •  
    I respect all opinions. That said Celente is very unusual practically predicting the end of the world.

    I listen and make up my own mind. Celente makes some points but I dont buy into his overall thesis.

    We certainly have risk and I am quite cautious. That said you have to lift your head and assess opportunity as well.
    14 Oct 2011, 09:02 PM Reply Like
  •  
    End of the world derangement syndrome.

    Celente is part of the doom and gloomers movement

    I have hedged. Got my ammo and gold but if we survive 2012, 2011 will mark a major market bottom

    I really think that once Europe gets taken off the table sustained a bull rally will return.

    The reality is the damage has been done the world is going to address the debt overhangs and we will continue our climb from the abyss.

    The time be long is in the darkness,
    not when the talking heads tell you
    14 Oct 2011, 09:39 PM Reply Like
  •  
    Has anything really changed since Oct 2008, or is it actually now worse? We now have 15 trillion in debt and a 1.4 trillion annual deficit. Unemployment, arguably worse. Still 6mm homes in distress. Banks are still insolvent if mark to market. FED has diluted dollar significantly. True inflation higher. Corporations have high debt, although some also now have better cash reserves. Social security, medi-care, energy- no one has touched these three most important issues. It wouldn't surprise me to see sub-1,000's again. Yes, if you buy today maybe you'll enjoy a run-up, and maybe you'll get out in time, but is there a bigger risk to the downside? I'd say yes, at least for now.
    14 Oct 2011, 10:03 PM Reply Like
  •  
    Spot on my friend, spot on...
    15 Oct 2011, 01:45 AM Reply Like
  •  
    roubini , biggs and gundlach also see a suckers rally .

    they are trying to get pensions to bite into the market ....they will not budge off the bonds .

    the volume was anemic throughout the rally .

    just curious , is the short selling ban still in effect in europe and parts of asia ?
    14 Oct 2011, 10:22 PM Reply Like
  •  
    Removing emotion. 33% range, 33% up range, 33% down range
    15 Oct 2011, 01:02 AM Reply Like
  •  
    Buy and hold will resume in secular bear. Circa 2016
    15 Oct 2011, 01:03 AM Reply Like
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