The line heard in every economic recession, and every single stock market pullback is: this time it’s different.
Which is usually one of the single best indicators to tell you that the market is putting a bottom in place, and we can only expect the market to move up from here.
And best of all, this time around it comes from Jim Cramer.
His actual quote, on July 9 was “but this time is different; it’s doom itself. In 25 years on Wall Street, I have never seen things this bad.” He even went on to write, “sell everything. Nothing’s working. Revisit when the prices are adjusted for a big recession, soaring inflation, and a crushed consumer. Sell at 12,000 and come back at 10,000. Even better: short it.”
Here’s the link to the article
This is the problem when you have to predict the weather (or stocks), for a living. You have a pretty good chance of being wrong. Most of the time.
Cramer is usually optimistic, but says he’ll be bullish again after a big recession, when inflation is tamed and the consumer feels better about the economy. I’m sorry to report that if Jim Cramer waits that long he will miss a pretty good move in the market.
These charts that I keep talking about tell you very clearly which sectors are in demand (and therefore seeing a rise in prices) in which sectors and stocks are in supply (which means they’re seeing a decline in their prices). They have successfully kept us in energy for the past five years and out of financial stocks nearly 18 months ago.
I won’t hang my hat on predictions, company earnings, news of a new product or any other rumors. Don’t forget: everything written on Wall Street was written with an agenda behind it.
That agenda usually doesn’t include you.
