About that pop on Tuesday...
Cramer wrote about the impetus of that afternoon pop in his piece "Bullish Sign From Tuesday's Market Move" on 11/15/06 at 7:32 am. $500 M leveraged through futures and futures options rushing in from a big fund.
He didn't talk about the short covering and panic buying that resulted because of it as the stops above resistance were taken out. But, that's what I did, after booking some profits Monday and Tuesday a.m. selling some calls that were racking up big gains, I ended up buying almost an equal amount back of some new names Tuesday after the pop - cause you can't be out right now, not after that pop.
He also wrote more about the move in another piece or commentary, but, I can't find it now. I'd recommend trying to find it.
Other good pieces this last week include "No Reason to Stay Public" about how inefficient this market is pricing many stocks right now, stocks deemed "uninvestible" and/or just underpriced due to lack of sponsorship.
There have been several pieces on overall lack of supply - important messages that are right on target.
And my favorite of the week (so far), and a classic, and why I enjoy reading his commentary so much, his piece "Guilty as Charged on MasterCard".
Thanks Cramer.
I hope TSCM recovers for you. You deserve a better price on your shares for all you do.
AI
