TheStreet.com's James Cramer housing market revisionist

[Jim Nickerson]

Re: TheStreet.com's James Cramer housing market revisionist

For such a bloodbath there didn't appear to be a whole lot of conviction in the selling today, volumes were well below normal for everything I lost my ass on today. Cramer asking Bernieboy to lower rates to help save Wall Street jobs is pretty funny, I wonder how many real jobs get created for each Wall Street job that is lost.

Volumes today did not appear to surpass the highs of Thursday last week, but volumes for 10 out of the last 11 days , including today, have been in the range of approaching the top 5 percentile of daily volumes going back at least a couple of years. Today was not a below normal volume day according to the data I collect--which are not final figures until about 6PM EDT.

Perhaps the sellers have not gotten serious yet in selling the things you own--maybe Monday they'll get serious.

[Tet]

Re: TheStreet.com's James Cramer housing market revisionist

Volumes today did not appear to surpass the highs of Thursday last week, but volumes for 10 out of the last 11 days , including today, have been in the range of approaching the top 5 percentile of daily volumes going back at least a couple of years. Today was not a below normal volume day according to the data I collect--which are not final figures until about 6PM EDT.

Perhaps the sellers have not gotten serious yet in selling the things you own--maybe Monday they'll get serious.

All requires serious buyers to get serious sellers, you don't unload something because you think it's going higher and you don't buy something because you think it's going lower. To me it doesn't look like the Street is playing with enough of other peoples money just yet, need a lot more of Jane and Joe's money to really want to blow this out of the water. Stocks are still a very, very hard sell, funny our 401K guy did his enrollment pitch last Wednesday just before Thursday's meltdown. Our mix is still more bonds than stocks, that needs to change for Wall Street to make a lot of money taking this a lot lower. I notice our 401K doesn't have any Rydex Short funds to profit from these moments and Joe and Jane can only bet one direction. This is one of those moments that explain why you can have a horse race, if we all knew which horse to bet on you certainly couldn't have one. If I was short here I'd be taking my profits away from the table right now, that was a very good run. The first guy to cover gets the bounce started.

[grapejelly]

Re: TheStreet.com's James Cramer housing market revisionist

contraryinvestor.com Brian Pretti has shown even as recently as Thursday that the money in the market isn't the individual investor's money. The public are not in the market. The hot money *is* in the market -- the institutional guys trying to at least tread water. They will sell on a dime. Very scared money. That's what we have been seeing lately.

Why isn't the public in the market?

Tapped out. Borrowed to the hilt.

Nothing left to use to invest in stocks.

[Tet]

Re: TheStreet.com's James Cramer housing market revisionist

contraryinvestor.com Brian Pretti has shown even as recently as Thursday that the money in the market isn't the individual investor's money. The public are not in the market. The hot money *is* in the market -- the institutional guys trying to at least tread water. They will sell on a dime. Very scared money. That's what we have been seeing lately.

Why isn't the public in the market?

Tapped out. Borrowed to the hilt.

Nothing left to use to invest in stocks.

That's my view as well, the sharks don't like to steal from each other either. Now where does Joe and Jane have their money? Where is there money the sharks can steal from, looks like they're looting real estate right now. What's next after the real estate heist? Oil maybe? A little gold and silver certainly. Looks like some foreign currencies and foreign markets Wall Street can loot from. It's the Fed's job to create bubbles and the stock market is just now catching up to where it started out six years ago, that's not much of a bubble, especially with Uncle Buck trading at 80.