Phantasmix Stock Blog

And some people call me paranoid… It’s all true.

Jim Cramer on Market Manipulation: In His Own Words

Going into the long weekend here in Canada, I want to summarize (mainly for myself) what’s going on with our stocks:

FCO.TO – Formation Capital
Long term hold

CML.V – Crowflight Minerals
Long term hold

BN.V – Blue Note Mining
Long term hold and trade to bring down ACB

SLW.TO – Silver Wheaton
50% long term hold, 50% trade in and out

PBX.V – PBX International
This one’s not going anywhere for a few years, will sell the remaining 50%

PWT.UN.TO – PennWest Trust
Have been in and out a few times. This time holding a small position for a longer term. 12% distribution is nice, 9% after taxes.

(FSLR: 113.69 +2.47%) – First Solar
Still shorting. I don’t hate solar energy, though I do think this is just ugly and a waste of land. It’s just that I believe FSLR’s valuation is very much out of whack at the moment.

Dwight McDonald (American writer, editor, social critic, philosopher, and political radical) wrote:

“Americans often imagine that facts are solid, concrete and distinct objects like marbles, but they are far from this. Rather, they are subtle essences full of mystery and metaphysics, which change form, color and sense according to the context in which they are presented. They must always be treated with skepticism, and the judgment must be based not on the number of facts that can be mobilized in support of an opinion, but on a skillful discrimination between them and the objectivity with which they are treated to arrive at the truth, which is something altogether different from the facts, although there is some connection between them.”

I don’t think it’s fair to say that only Americans are like that. Most other people prefer clarity as well.

Below is a modified clip from the movie “Network”, cut out from documentary “Zeitgeist”.

Theme of the week – fear and risk.

Don’t be afraid to go out on a limb. That’s where the fruit is.

Author after the jump

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Despite the major selloff, however, the market is not yet in “bear” market territory. A bear market is defined as a drop of at least 20% off the recent high. The Dow closed at 14,164.53 on Oct. 9, and ended Thursday down 19.1% from that peak.

Source: CNN

It’s just a technicality at this point. Just declare the bear market already, CNN!

Even though people are expecting “an oversold bounce” tomorrow, is anyone really brave enough to buy ahead of the weekend?