They're buying more shares. The game plan worked exactly as described in Friday's Morning Meeting. The dip arrived on schedule. The faithful executed the trade. Now we wait for the part where it goes lower.
Cramer called it his new favorite chip stock. Not his current favorite. Not his long-term favorite. His *new* favorite. The man cycles through semiconductor picks like a suburban mom cycles through juice cleanses. Each one works until it doesn't. Each one gets the full television treatment. Lights. Graphics. Sound effects that make you think NASDAQ just cured cancer.
The technical setup could not be clearer. A talking head told millions of people to buy a stock. Those people bought the stock. The stock went up because those people bought it. Then the stock dipped because that's what stocks do after talking heads tell millions of people to buy them. So now they're buying more. They are averaging down on a position they opened because a man on television said the word favorite.
Retail traders see this headline and feel included. They read game plan and think they're part of some institutional strategy. They're not part of a game plan. They're part of the game. The ball does not get to help design the play.
Cramer's favorite chip stock from 2019 is down forty percent. His favorite from 2021 is down sixty. His favorite from last March trades below its two-year moving average and prints lower highs on every bounce. But this one is different because he used the word new.
They laid out the game plan in Friday's Morning Meeting. The dip came. They bought it. The chart will do what the chart was always going to do, and Jim Cramer's opinion will have mattered exactly as much as yours.
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