Canadian exchanges poised to open well following Monday holiday?
In a post called “Did any of you listen to Jim Cramer?” that appeared on the Potash Corp. of Saskatchewan (TSX: T.POT, Stock Forum) Bullboard, Stockhouse investor kingyahoo quoted the Mad Money guru while making the following observations, edited below for clarity:
This is what Cramer said last week:
“Whatever money you may need for the next five years, please take it out of the stock market
right now, this week. I do not believe that you should risk those assets in the stock market right now.”
I shrugged it off for several reasons. Jim is a comedian first and an analyst second. I wish I had him as a patient and could get him to lie down on my couch and explore his unconscious mind! That fellow is a nutcase.
There were a few oil stocks I wanted to buy, but was waiting for them to come down around December as they have done for several years. Well, I got two of these stocks last Friday at the entry price I wanted. I will celebrate Thanksgiving for a second time on Tuesday when the Toronto Stock Exchange opens. Happy Thanksgiving and have a great week. At least make the most of it just in case it does not last. Good luck.
Nutcase or no, Cramer has made a lot of money in the stock market over the years. And a near-term rally that lasts even six months would not disprove his claim that the stock market is too risky if one were to need the money within five years.
Anyone else out there looking for a pop in energy stocks when Canadian markets open Tuesday? Comment below.
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