Elon Musk playfully suggests that Jim Cramer is a reliable investment indicator
Elon Musk has once again caused a stir on social media, this time with a tweet regarding Jim Cramer’s market predictions.
Cramer, the host of CNBC’s “Mad Money,” has a reputation for giving investment advice that often falls short. In a recent prediction, he advised investors to sell off their remaining crypto tokens during a market rally. However, this advice proved to be misguided, as the crypto market continued to rally, with Bitcoin reaching a new high in over 9 months.
The Force is strong with inverse Cramer
— Elon Musk (@elonmusk) March 16, 2023
This is where the “Inverse Cramer” indicator comes in. According to Dogecoin co-creator Billy Markus, Cramer is “doing a good job” with this indicator. Elon Musk also showed his support for the indicator in a recent tweet. The Inverse Cramer Tracker ETF (SJIM) is designed to work in the opposite direction of Cramer’s recommendations, making it easier for investors to know when to invest and when to stay away.
Tuttle Capital Management’s CEO explains that if Cramer recommends buying a stock, the indicator will tell investors to short it in the future. On the other hand, if Cramer recommends selling a stock, the indicator will signal investors to go long on that stock.
This new indicator seems to have gained some traction among investors who are looking for a more reliable way to invest their money. With Cramer’s history of giving bad investment advice, it’s no wonder that investors are looking for a way to protect themselves from his predictions.
It’s not the first time that Elon Musk has used social media to comment on market trends. In the past, his tweets about cryptocurrencies like Bitcoin and Dogecoin have had a significant impact on their prices. It remains to be seen whether his support for the “Inverse Cramer” indicator will have a similar effect on the market.
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