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Thread: Cramer says to sell rally

  1. Default Cramer says to sell rally

    Last night on Mad Money he told his viewers to sell.

    Who's looking to buy the dip?

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    I agree with him for once, only thing I'd buy at these levels is a short etf or something news based on the long side, such as F, but not at the elevated levels.

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    This is nothing more than a bounce and xmas rally, next week or the following week should see a retest of the lows, imho.

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    I agree although with this crazy market I really wouldn't doubt it popping up to 1000 on the S&P before going lower. I'm completely done with trying to trade this day to day and have instead just been slowly buying S&P June 600 Puts. I keep looking at the 10 and 20 yr S&P charts and it's just screaming out double top. I have no idea when we'll break to new lows which is why I've gone all the way out to June but I'm actually expecting it to happen by late January at the latest.

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    Selling rallies seems to be the best trading strategy the last 3 months. It probably will be the best trading strategy next year as well. I certainly wouldn't chase any stocks in this market. The next Qtrs earnings reports will be horrible. You'll really start to see the full impact of the recession on companies bottom line early next year. IMO, most analyst's earnings forecasts still are too high. They need to come down a lot. Selling rallies seems like the best thing to do for the foreseeable future.

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