The MSM’s reliable Cramer Indicator is jumping up and down again
Last time we noted it, on March 5th, we called it bullish and indeed it proved to be just that as ole’ Jim was jumpin’ bearish and advising Ma & Pa about the 5 stages of grief before a real correction had even gotten going (SPX had not even made a lower low to the previous low).
Today Ma & Pa watch the financial TeeVee and get a dose of a very different Jimbo…
Personally, I am still short-term bullish (with all due risk management) but this gives me pause, because this is one of the most reliable contrary indicators on the planet. Typically, when Ma & Pa toon in to da TeeVee and see this indicator a jumpin’, at some point before long a move opposite to the indicator’s proclamations tends to happen.
Like I said, I am still bullish. But with one new and important caveat.
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