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Cramer Calls Market “Stupid, Rapacious, Arbitrary, Capricious And Downright Ridiculous”, Tells Viewers To Stay Out

Posted By admin On June 16, 2010 @ 4:10 am In Money Watch | Comments Disabled

Tyler Durden
Zero Hedge

Wednesday, June 16th, 2010

After catching a few soundbites of Cramer’s spiel today, we were stunned: for once theStreeter did not lose his marbles over an engineered, 20 handle, 200DMA breakout rally. Quite the opposite. In what is likely a first, the Mad Money host actually told his viewers it is time to get out of the market: “I am calling this a bad rally. This market has now become more depressing than Ethan Frome. Even the good days are now bad days. It’s almost as if the whole market is caught between 1st base and 2nd base. So we get an endless rotating short squeeze in oil, in the banks, in tech, in discretionary…. But once the shorts are done getting picked off, we’ve got no more reason to run. It is a rally that stops that a blast of future selling comes in. It is a rally that stops the moment the buyers just walk away. We used to have fundamentally based rallies – that’s not how this market works.” The 10 minute rant against the market by the legendary permabull is simply shocking: he actually describes all the different dimensions in which the stock market is completely busted and discredited in a way that makes us jealous: “This market is stupid. And it is hated for a very good reason. The market seems rapacious, arbitrary, capricious and downright ridiculous. It is a tale told by an idiot, full of sound and fury, signifying nothing.”

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[1] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[2] GLENN BECK: Does CNN Think Its Viewers Are STUPID?: http://www.prisonplanet.com/glenn-beck-does-cnn-think-its-viewers-are-stupid.html

[3] CNBC’s Bartiromo: ‘That is Ridiculous. This Really Sounds Like Market Manipulation to Me’: http://www.prisonplanet.com/cnbcs-bartiromo-that-is-ridiculous-this-really-sounds-like-market-manipulation-to-me.html

[4] Cramer says Get Out Of The Market: http://www.prisonplanet.com/cramer-says-get-out-of-the-market.html

[5] “I Am Jim Cramer And I Approve Of The President’s Message (Because The Market Moved Up By 3 Points)”: http://www.prisonplanet.com/i-am-jim-cramer-and-i-approve-of-the-presidents-message-because-the-market-moved-up-by-3-points.html

[6] “Passage Of The Healthcare Bill Means The Double-Dip Is Coming” – Market Insight From Permabull Jim Cramer Who Just Turned Bearish: http://www.prisonplanet.com/passage-of-the-healthcare-bill-means-the-double-dip-is-coming-market-insight-from-permabull-jim-cramer-who-just-turned-bearish.html

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