Countertrading Jim Cramer on Bitcoin

[bbc.reporter]

It appears that we have a new favorite crypto predictor. Our old favorite Tom Lee might have stopped making public predictions on bitcoin after 2018. This might have caused much psychological shock and damage on Tom hehehehe.

Our new favorite predictor is Jim Cramer hehe. Algod, a trader who predicted Terra's collapse, has been countertrading him and he appears to be making good trades.



Whale Who Bet $1M on Terra's Collapse Now Countertrading Jim Cramer

Algod posted an update on their “inverse Jim Cramer” account on Twitter Monday, announcing that they had doubled their profits since the account launched. Algod claims that they startedthe account with $50,000; its net value now shows as $101,440.71 in their post. “Some people work a 9-5 job, i simply just countertrade Jim Cramer… it’s not much but honest work,” Algod wrote.

There’s also an Inverse Cramer ETF Twitter account that likely inspired Algod, where over 84,000 followers track Cramer’s calls to ascertain what to bet against next.

Read in full https://cryptobriefing.com/whale-who-bet-terras-collapse-countertrading-jim-cramer/



Inverse Cramer ETF Twitter account

https://mobile.twitter.com/CramerTracker

[NotATether]

I hope there's a way to estimate from empirical data how much of the time he's actually right, using a boolean algebra model or something.

Because I'm starting to see a phenomenon, the oppisite action of the decision you make is usually the correct one.

[mk4]

He's been a meme for countertrading for a while now; and when the meme blew up, people actually started doing the inverse of what he's saying — slowly but surely making this "strategy" nonviable.

He's still a clown tho.

[hugeblack]

Social media makes many heroes that people imitate them for nothing than a good luck was on their side when they expected a certain thing.

There is no person who strives in technical analysis and then tells people to follow what he says or that his predictions are true, but on the contrary, he always urges everyone to be careful and make sure the numbers are accurate and that the risks are high.
Only scammers can tell you that they can predict the future and make easy profits for you.

[buwaytress]

Yeah, it definitely makes sense, seeing as like how most funds do well in a bull (and so all the mini copytraders also make money), while they do poorly in a bear.

Took a look at the Twitter but there wasn't really much evidence I'd say. Probably a healthy amount of cherry-picking (like all trading tips go I guess).

[adaseb]

Yes you can easily counter trade all his ideas and come out ahead. Whenever he has some stock tip, it’s usually him entering way too late. I noticed that he buys near the top and sells near the bottom.

And no idea whether it’s deliberate or not but he has a very bad track record. Has since 2008 pretty much. No idea why people still watch him and why he is so popular.

[mk4]

Yes you can easily counter trade all his ideas and come out ahead. Whenever he has some stock tip, it’s usually him entering way too late. I noticed that he buys near the top and sells near the bottom.

I wouldn't go as far as to think that he actually acts upon his public "predictions". In the end, the dude's job is to entertain people in television — with the guise of "educating".

[adaseb]

Yes however it seems that there are many who follow his predictions and end up losing money. I remember back in 2008 he went on some talk show and got roasted because he kept telling people to buy Lehman Brothers right before it went bankrupt.

If the show was comical then he wouldn’t of made any predictions at all. He would just roast different companies and leave out any buy or sell recommendation. A new trader probably he watch his show and think he is some wizard and end up copying his trades.

[cryptoperkele]

I hope there's a way to estimate from empirical data how much of the time he's actually right, using a boolean algebra model or something.

Because I'm starting to see a phenomenon, the oppisite action of the decision you make is usually the correct one.

Shouldn't profits against trading him be good enough indicator on that? But yeah i agree, empirical data would be nice. In fact some sort of model that's tracking all the influencers and their trackrecods out there would be very cool.

[justdimin]

Yes however it seems that there are many who follow his predictions and end up losing money. I remember back in 2008 he went on some talk show and got roasted because he kept telling people to buy Lehman Brothers right before it went bankrupt.

If the show was comical then he wouldn’t of made any predictions at all. He would just roast different companies and leave out any buy or sell recommendation. A new trader probably he watch his show and think he is some wizard and end up copying his trades.

There is no perfect predicter though, that is why even him who already have an experience on the financial field, still come up with wrong predictions sometimes and maybe those who have betted on his choice last time are just unlucky but those who remain as his followers know that those things are only normal. Not all times we will only win but there must be a time for us to lose.

For a new trader yes that will probably happen because they don't have enough experiences yet and they are still doubting about their abilities so for them, it might be a good idea to depend on some known experts first in hopes of earning money immediately.

[STT]

He is a bit of a weather vane in showing a popular sentiment on many stocks but I think he is exactly trying to achieve that and hence be part of that TV show with its little meme soundboard he has.    Theres no way to exactly do the opposite of him and do well, he isnt that reliable and some of what he says is just buy oil or related companies.  
  I think to counter Cramer would be to be a contrarian which is definitely a valid strategy.  

In 2008 he did say it would blow up, it just wasnt good consistent advice.   Being boring and safe is not his thing, I'm not defending him just across the range of buttons he presses I think he did express the view that there was more then a little trouble in the market (a few people did say  this, March '08 I was reading an article for the Exters triangle take on why September onwards in markets would occur).  If he said failure every day for 6 months it'd be correct but not much of a show, '08 summer there was a good rally so many were buying up.  Cramer is like a stock magic 8 ball

[adaseb]

Yes however it seems that there are many who follow his predictions and end up losing money. I remember back in 2008 he went on some talk show and got roasted because he kept telling people to buy Lehman Brothers right before it went bankrupt.

If the show was comical then he wouldn’t of made any predictions at all. He would just roast different companies and leave out any buy or sell recommendation. A new trader probably he watch his show and think he is some wizard and end up copying his trades.

There is no perfect predicter though, that is why even him who already have an experience on the financial field, still come up with wrong predictions sometimes and maybe those who have betted on his choice last time are just unlucky but those who remain as his followers know that those things are only normal. Not all times we will only win but there must be a time for us to lose.

For a new trader yes that will probably happen because they don't have enough experiences yet and they are still doubting about their abilities so for them, it might be a good idea to depend on some known experts first in hopes of earning money immediately.

You don’t understand how bad his predictions are. He actually ran a hedge fund before and has some experience in finance. His predictions are so bad it makes it seem he is paid to give bad tips and cause many new traders to lose money.

I am pretty sure someone can randomly flip a coin and get better predictions than him. I assumed in 2008 people would stop watching him however he is still on TV. I don’t understand why.

[OgNasty]

Jim Cramer is hilariously bad at timing buys and sells, but honestly I think when it comes to Bitcoin, the best contrarian indicator I’ve found is Samson Mow. When that guy says Bitcoin is going up forever, you’d better sell. He seemed a little bearish lately, which is a good thing if you sold at $65K when he was with Saylor talking about mortgaging homes to buy BTC. Seems like it’s time to start getting back in.

[bbc.reporter]

I hope there's a way to estimate from empirical data how much of the time he's actually right, using a boolean algebra model or something.

Because I'm starting to see a phenomenon, the oppisite action of the decision you make is usually the correct one.

Why would we complicate this? There is a simpler way to estimate this by only using a chart and mark them with the date of the predictions. I saw one of Jim Cramer on social media but I cannot find it anymore. It looked very much similar to this image hehehe. This cleary shows that many of the experts in mainstream financial media are so very wrong.

[bbc.reporter]

It appears that that our new friend Jim Cramer has made another tweet telling everyone to sell the cryptos and the nfts and the ipos and the SPACs before they take your life's savings. No more nonsense!

Source https://twitter.com/jimcramer/status/1564758962725130241

This is what happened to bitcoin 30 minutes after he made the tweet hehehe. Can everyone see it now?

[Fundamentals Of]

And then the gullible traders and investors who easily get carried away by stories like this will begin to make orders following Algod's signals and a kind of scheme is born.

Jim Cramer could be wrong many times, but in terms of catching Bitcoin's price, who's not? Everybody who made a number of predictions has been proven wrong many times. It is easy to drop a prediction price but all of them, Dimon, McAfee, Novogratz, PlanB, etc were all proven wrong at some point. They are no different from both Cramer and Algod.

[rhomelmabini]

I think Jim seems to be the newbie me, if I tend to call for a shot or made a trade, it will do the opposite. Jim was just the representation on all of us I guess, the only thing about it is that he has more reach. So, if he calls a trade a lot might get a win. I wonder if all of his followers are investors as well that counter his calls and then what he calls was the correct one. It will be a meme.

[bbc.reporter]

Thank you Jim Cramer for showing as another countertrading sign hehehe!!!



Cramer thinks the mid-June market bottom will hold despite the many troubles facing stocks

“Sometimes I just want to tell these doubters, as I constantly tell strangers, don’t give up the ship,” Cramer said on “Mad Money,” hosting the show from Seattle.

Source https://www.cnbc.com/2022/09/12/cramer-thinks-the-mid-june-market-bottom-will-hold-despite-the-many-troubles-facing-stocks.html



@Fundamentals Of. Algod is not forcing everyone to follow his countetrading strategy on Jim Cramer. He was only doing this because it was funny for him and because he wanted to entertain his followers. Jim Cramer is similar to our old friend Tom Lee. We do not need to take this very seriously hehe.

[pooya87]

Whale Who Bet $1M on Terra's Collapse Now Countertrading Jim Cramer

This gives me flashbacks of 2017-2018 when newbies who closed their eyes and selected any altcoin and make a profit from its pump during 2017 thought they were "experts" despite everyone warning them and ended up losing all their lifesavings during dumps.
It is worth noting that most of those who made profit by pure luck thought themselves to be good "predictors"...

[cryptoaddictchie]

@Fundamentals Of. Algod is not forcing everyone to follow his countetrading strategy on Jim Cramer. He was only doing this because it was funny for him and because he wanted to entertain his followers. Jim Cramer is similar to our old friend Tom Lee. We do not need to take this very seriously hehe.

On the other note. Algod doesnt really believe on draw lines and chart up and down indicators so his really gonna countertrade a lot of users.

This gives me flashbacks of 2017-2018 when newbies who closed their eyes and selected any altcoin and make a profit from its pump during 2017 thought they were "experts" despite everyone warning them and ended up losing all their lifesavings during dumps.

Thats the thing, they are already gained and winners but still not dump it while having multiple gains instead holding and hoping for more gains instead ended up selling at a loss when the bear says hello. Crazy but true story.