MoneyNews reports:
Jim Cramer, the often loud and always bullish host of a popular CNBC show, is now bearish.
Cramer frequently tells his audience that he believes there is always a bull market somewhere, and it’s his goal to help them find it.
“But this time is different; it’s doom itself,” Cramer recently wrote in New York magazine. “In 25 years on Wall Street, I have never seen things this bad…”
“…Sell everything. Nothing’s working,” he writes.
The last time Cramer felt this bad the market saw a decent rally. Now that he’s officially flipped bearish (bandwagon) we’ve got a real test for this newest of sentiment indicators.
Source:
Cramer: Stocks are Doomed, Sell Now
MoneyNews
July 9, 2008