As one user puts it:
Cramer is a loudmouth, and has been for years...but he ... Smartphone News forum
Cramer Says Buy Ahead of Blackberry Bold Debut
As one user puts it:
It seems many are doing just that as Research In Motion shares have moved up smartly after Jim Cramer made a lengthy case for the stock last night on CNBC’s Mad Money.
Cramer is a loudmouth, and has been for years...but he is still on TV and people listen to him. If he was making lousy picks he wouldn’t have lasted 6 weeks. Pay attention to him!
“RIMM has spent serious money on a new product launch,” Cramer said, according to a transcript of his remarks. “I think you should buy RIMM right here at $119… and sell it, schnitzel it… right into the launch of the Blackberry Bold.”
Cramer followers are listening to him: RIMM today is up $4.45, or 3.7%, to $123.67.
Now that's what I'm talking about!
BlackBerry® Certified Support Specialist
Originally Posted by j llama
As much power as "Cramericans" have in large #'s, they do not have the buying power to move RIMM. RIMM has a float of nearly half a billion shares and 75% of that is owned by institutions. The reason for the rally has nothing to do with the Bold or anything else news driven. RIMM is such a heavily traded (and popular) stock because the chart fundamentals are strong. It trades up on a rolling bullish trend and trades down on a rolling bearish trend. It barely ever strays away from it's pattern and when it does, its quick to reform.
On tuesday (the 29th) around noon, the bearish trend was broken when a triple-bottom was formed around midday. A triple bottom is when a low is tested 3 times and is unbroken. At noon was the 3rd attempt and after it was not broken, the stock immediately started to shoot up and over 2 days it hit 125. At that point it was unable to penetrate because of it being highly overbought, so it cooled off and settled at 120. Before taking off on another bullish run, it needed to test lows and it did again at 119. Same as in the past when it tested lows a few weeks back at 102 and some change before taking off. Cramer may use silly sound effects to keep his audience tuned in, but he is far smarter than he lets on. He knows the power of technical analysis. That tuesday, a key bearish trend was broken by that triple bottom forming and a bullish trend was created. When a trend is broken on a stock that moves with such power as RIMM, you stand up and take notice. If he were to use such ideas as "triple bottom" on his show, it would delve into the realm of the "fast money traders" (the show that comes on prior to his) and he could permanently lose his audience to the allures of day trading (where they would fail miserably).
The reason he is saying sell off as it rises also has nothing to do with the Bolds release. He (along with half of wall street) has been putting cash on the sideline because we are approaching a key technical point, The S&P500 climbing to the realm of the 1300's (particularly 1375). At that time there's a high probability of a huge sell off, since it is widely believed this has been a bear market rally and that is a major resistance point that (with such low volume) will not be penetrated.
So far he is giving the masses the right plays, but they have no idea what is really going on. To quote the Ironman star, "STICK WITH CRAMER!"
Nicely put.So what brokerage firm do you work for? ~via BB (wap.pinstack.com)~
No series 7 here, just an amateur investor with a passion.
Originally Posted by caustic
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