Was Jim Cramer right to say "Sell" before an 18% decline in the market

I, for one, am a fan of Jim Cramer. I think the guy is right more than he is wrong and that, had anyone listened to what he said EARLY last week, they would have saved some $$$. A KEY element is that he said, "if you need the money in the next 5 years then don't hold that money in stocks" which is what MANY financial consultants would and SHOULD tell people

I know COUNTLESS people that have watched all their gains since 2001 and 2003 disappear. I know some people that are cutting spending because, guess what, they have to send their kids to college in the next 5 years and they now don't have the $$$.

Oh, and today's 11% gain in the markets STILL hasn't even remotely CLOSELY come to ending any short-term downtrend. Until we get up over the 20 day moving average and then break the 20 week moving average I am not going to be a big BULL. Now, is the market due to bounce/rebound off of a technically oversold state? You betcha! I see S&P 1100 VERY possible as the market rebounds





Dan Ross
http://www.betterbizideas.com/

Dow Jones Headed to 7500?

http://www.cnbc.com/id/15840232?video=884149897

Dan Ross
http://www.BetterBizIdeas.com

Cook County Illinois Sheriffs are now refusing to enforce foreclosure evictions for renters

This is going to be interesting because

1) Many tenants are at NO fault and weren't told by their landlord re: the foreclosure
2) Many paid their bills and are being uprooted with little to no warning
3) It is going to have implications re: the default / foreclosure process in Chicago and, perhaps, throughout the U.S. if other people stop enforcing the evictions.

I personally understand where the sheriff is coming from. He wants to do WHAT IS RIGHT, which is ALOT of relief to a taxpayer who simply asks that much of his/her elected government officials / workers.


Watch CBS Videos Online

Dan Ross
http://www.betterbizideas.com/

Great Roubini Videos re: the Recession from Tech Ticker

This guy predicted this economic debacle two years ago. People laughed at him then.....Last year people paid ATTENTION to him as things began to unravel and nowadays everyone in places of power are listening to his every word.

Worth the listen....He now predicts another 20% drop through next year. "Things are worse than I imagined" per his comments...



He then predicts a 2 year recession, with main street following the financial crisis. He has some VERY sound economic datapoints.



Finally, another big bank institution could go insolvent per his comments. Citibank appears to be his guess. I don't think there is a CHANCE IN HECK that Citibank will be allowed to buy Wachovia given their financial straits. Wells Fargo is the likely winner then....



Dan Ross
http://www.betterbizideas.com/