Thursday, January 21, 2010

Can we call it a Cramer Crash?

It's unfair to put the recent moves on the back of one man but why not?

"I think investors who are nervous about the dictatorship of the Pelosi proletariat will feel at ease, and we could have a gigantic rally off a Coakley loss and a Brown win," said Cramer on Friday's "Mad Money."

In all honesty, it's remarkably hard to predict short-term swings in the market right now and with the computers sitting right at the pivot point for an explosive move higher, that seemed like a pretty fair bet by Mr. Cramer. The excuses I've seen for today's sell-off have been pretty weak - new proposed bank regulations, Chinese moves to curb growth, etc - aren't really new. The "phantom" bidder tends to hit the market in the afternoon - just about 1:30 over the last 2 days - so we'll see if we bounce back today like we did yesterday.

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Hyundai dealer feels the wrath of the intertubes....

Companies spend hundreds of thousands of dollars annually advertising to build goodwill and then blow it all with one bad move. The entire saga is worth a read, but the summary is:

* Dealer sells a car on Ebay.
* Dealer fails to honor the price and laughs at the customer.
* Dealer claims customer is a "psycho"
* Blogs pick up the story and countless out of work tech geeks flood the dealership with emails and phone calls.
* Dealer "settles" but details are still sketchy.

The damage to this dealers reputation is enormous and I think it's possibly done some damage to the Hyundai brand because of the scope of this story. All because they didn't enter a reserve price :)

Cheers!

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