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Cramer on BloggingStocks: This market is driving the little guy away

 Dec 11, 2008 02:05 PM UTC
Return Risk
+1.30% MID
Tracked Blogger
Symbol Sentiment Start Return Closed
XOM Positive 12/11/08 +2.25% 01/06/09
PG Positive 12/11/08 +4.34% 01/09/09
MO Positive 12/11/08 +2.82% 03/09/09
BP Positive 12/11/08 +23.72% --
OXY Positive 12/11/08 +38.86% --
CVX Positive 12/11/08 -1.84% 01/06/09
MS Positive 12/11/08 +127.67% --
JPM Positive 12/11/08 -35.77% 03/12/09
NUE Positive 12/11/08 -23.13% 03/18/09
WFC Positive 12/11/08 -10.45% 05/07/09
VFC Positive 12/11/08 +38.08% --

Graphic_arrow1 Via BloggingStocks:  

Filed under: Exxon Mobil (XOM), Market matters, JPMorgan Chase (JPM), Altria Group (MO), Chevron Corp (CVX), Morgan Stanley (MS), Procter and Gamble (PG), BP p.l.c. ADS (BP), Nucor Corp (NUE), Wells Fargo (WFC), Stocks to Buy, Cramer on BloggingStocks


TheStreet.com's Jim Cramer says it's too crazy for a lot of people, and they're cashing out of this casino.

Last night, during a talk at the 92nd Street Y in New York, I fielded questions from an overwhelming group of eager and confused investors, almost all of whom are bewildered, unhappy and fed up. They don't trust stocks and they think that the day-to-day nonsense that passes as a stock market is pure manipulation, that all of the wrong people are getting money from the government and that they wish somehow they could just get back to even so they can get out of this game.

I think they are right.

To me, when I see Occidental (NYSE: OXY) (Cramer's Take) up 5 on a nothing day, when I see Chevron (NYSE: CVX) (Cramer's Take) and Exxon (NYSE: XOM) (Cramer's Take) once again up huge amounts, when I see the market double in the last 40 minutes off obvious manipulation by products that serve only to manipulate, I totally agree with them. When I see the raids on the financials, or the insurers, when I see the shorts pressing JPMorgan (NYSE: JPM) (Cramer's Take) and Morgan Stanley (NYSE: MS) (Cramer's Take) down through aggressive shorting without upticks and ETFs, what am I supposed to think? When I see the consumer product stocks get slaughtered on news that isn't new -- Procter (NYSE: PG) (Cramer's Take) says business is tough? Well, hello, they have been saying it all along -- or steel stocks rally big on orders that aren't even here, as in Nucor (NYSE: NUE) (Cramer's Take), I say, "Forget it, the mechanism's not working."

Continue reading Cramer on BloggingStocks: This market is driving the little guy away

Cramer on BloggingStocks: This market is driving the little guy away originally appeared on BloggingStocks on Thu, 11 Dec 2008 09:05:00 EST. Please see our terms for use of feeds.

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