You should be buying things and accept that they're overvalued, but accept that they're going to keep going higher. I know that sounds irresponsible, but that's how you make the money. Right now up is down, left is right, peace is war, all that 1984 stuff. But don't laugh, 'cause this could very well mean the difference between closing out the year on a high note and getting crushed. All these things are driving the pros batty and making tons for amateurs, and it's not over yet.
So what should you do now? Stop trying to out think it. Stop trying to be smarter than the market. Forget what you used to know; it's not working right now. The bottom line: you have to recognize, like we do in Cramerica, that there are bull markets - oil, tech, alternative energy, fertilzer, ag. You gotta play 'em. So go buy some Transocean, go buy some Deere, go buy some Baidu. Just go do it - it's ok. Go buy some Google. Buy a little. Stop worrying that everything's too expensive at the moment. Welcome the rate cut, take a little off after it goes up, and thank me later.
~ Jim Cramer, CNBC's "Mad Money," October 31, 2007
(This was taken from "Jim Cramer Flips, Flops, and Gloats," DonHarrold.net, November 18, 2007.)
(On October 31, 2007 the DJIA was +138 to 13,930. RIG closed at 119.37, DE at 77.45 (after 2-for-1 split), BIDU at 382.49, and GOOG at 707.00.)