Clueless Cramer strikes again [LQ]

I have a lot of fun with Jim Cramer because he is such a clueless fool.  I mean, all of those sound effects on a financial show?  Really??  Yeah, those sold commercials during the liberal years but conservatives don't like the idea of some clown with clown props helping them manage their investments.  My latest laugh at Cramer's expense was a doozy.  Read that post and then consider just exactly how I thought I was going to get away with calling America's TV stock expert out like that.  I wrote, "his advice will IMO turn out to be either very bad or simply as mal-timed as humanly possible".   Within days, the price of Cramer's pick, TOL, had plummeted from $41.68 down to $34.50.  That really was about as mal-timed as humanly possible.

You see, Cramer thinks that he understands the fundamentals of the stock market.  Armed with this vision, he should be able to tell us when to get into and out of stocks.  But Cramer is part of the herd and he does not even occupy a high spot where he can look around.  And so, as long as his liberal viewers will put up with his circus like antics, Cramer will continue to act like he can see anything more than anyone else even though his vision is limited to legs and hooves and the dust they kick up and the noise that they make. 

Cramer's real crime is that he has worked in the industry all his life and he still doesn't understand that asset prices rise and fall with the mood of the herd and not with some view of the so called fundamentals.

In another effort to show how this works I offer Cramer's latest mistake which comes in the form of a video apology for having recommended La Quinta holdings (ticker LQ).  The title of that link is "run far away from this stock".  So in essence, after pumping this stock endlessly as it continued to plummet, Cramer is now telling people to run away from it right as the EW count suggests that people should be looking for an entry point.  Maybe not a long term hold, but certainly a profitable trade.

And what do you think is going to happen with Cramericans when they sell this stock based on Jim Cramer's advice if it bounces up to at least the level of the prior 4th as shown?  Yep, they will be thinking that he got them in at the top and scared them out at the bottom.

Is it "the" bottom?  I don't know.   Probably not.  But it likely is "a" bottom with price target of $19.25.  It might need to dip again per the red model or it might follow the blue (red is primary) but within 1 month I think it will be nearly $3 higher than today which is a pretty darned fat percentage gain per unit time for most people.