Forex News

When people are nearly crying on TV, we’ve got to be close to some kind of bottom

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CNBC’s Jim Cramer had turned into somewhat of a meme with people piling on every time he gets something wrong but he really took the Meta disaster today personally. I mean, I get it, he makes recommendations and then he hears back from people who have seen their retirement accounts crushed.

This is hard to watch.

When someone is nearly crying on TV, that has to mean we’re close to some kind of capitulation.

Instead of piling on the guy when he’s down, I’ll give him credit. Earlier this week, he called the top in the US dollar and so far that’s looking like a great trade as he nailed the dollar drop almost immediately.

“I also think the dollar has peaked here,” he said. “And if the dollar
has peaked, can you imagine what Coca-Cola can earn?”

“The idea that the dollar is so powerful that we can go over
to any country in Europe and just have a field day. I mean, look, people are
traveling. The dollar got to an absurd basis, it’s the only commodity that hasn’t
collapsed. It’s a very crowded trade so I would bet against the dollar here.”

Could this be the beginning of the end for the 67-year-old Cramer? He could certainly use a vacation.


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