Letter to Jim Cramer
Jim,
Boooooooyaaaahhhh from Omaha, NE!
I am curious about your recent rant on the Ultrashort ETFs manipulating the market, and your woes about this.
Doesn’t this create great buying opportunities for the stocks you recommend? Didn’t we just come off one of the largest rallies ever? I understand your confusion about the selling of PNRA, but you’re advice is always for longer term investing, so 1 day moves like today should not be that discouraging should they? Especially considering the relative size of a 200 point move compared to the moves we have had recently of 500 plus points.
Your saying is that theres always a bull market somewhere and its your job to find it. I challenge you to this, and to adapting to the current market conditions. If the Ultrashort funds are ‘killing’ the market in the last hour of the day, then your commentary should be to buy in the last hour too, after these major drops.
Also, you say that the Ultrashort funds are the culprits for days like today. What about the Ultra long funds that are the polar opposites, making the same type of moves? Today you said you don’t like either because of the volatility they create, but shouldn’t the activity of these funds offset each other? I appreciate your show Jim and your inside information. Keep up the good work and great sound bytes.
Sean
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