of America (BAC): "Huge upside...they simply didn't tell a good enough
story last week...at $13 is great; next stop is $18...you gotta pounce
now."
“You gotta pounce now”. I would put that comment in
the category of a table pounding recommendation. Based on last night's
close Jimmy is calling for a near term rise in the stock of 35%.
In this market you can’t discount anything. BAC could go to $18 by September, but I doubt it.
In
July of 2008 the stock was trading hands at 23, on that basis a market
‘call’ back to 18 doesn't seem out of line. However, a year ago BAC had
5 billion shares outstanding. Their market cap was $115 billion. In
July of 2009 BAC has 6.4 billion shares outstanding, a 28% increase in the float.
At Cramer’s price of $18 BAC would have a
market cap of $115 billion. The same market cap of a year ago when the
stock was $23. A lot of bad things have happened to BAC in the past
twelve months. At one point they looked like they were going under.
That is not going to happen. But the idea that this company has a value
equal to one year ago just does not add up to me.
BAC is not a
one-way ticket to a 35% upside. There is a lot of risk in the stock at
this price. I think the only ones to make money on this call are the
guys who pay Cramer for his TV tips six hours before he makes them.
They are looking ‘smart’ this morning as they sell yesterday’s buys to
Cramer’s toutees.



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I'll stand up for one thing JC said last week. "We are getting long manufacturers even if their earnings are manufactured"
Cramer is a classic spokesman for our newfound "Used Car Salesman" philosophy and is out there pawning junkers for rebates. But unfortunately in this instance I can see several non-fundamental reasons for a price pop. If anyone has been following the p/c's on BAC they'll know that for what seems to have been weeks on end that this ratio has been in the .30 - .40 area and on very heavy volume. Compare BAC's numbers to GS and JPM over the same period. Someone appears very interested in a higher price. Also, I've got BAC's point of equilibrium up at the $19 - $23 area. The complementary bull flag on the daily chart doesn't hurt either, so I'd be cautious about "banking" against this one....IMHO
So, if I follow your logic, I guess anyone who is a charlatan should be beyond reproach by anyone in the press if that particular journalist knows nothing about being a charlatan? That makes sense. At least it does comparative to today's mainstream media. I bet you are a Fox or CNBC journalist.
You know, I'm gonna swim against the tide here and suggest that Cramer is harmless. Would I put any faith in any of his stock recommendations? No. But ask yourself what the purpose of the show is. It's primarily entertainment, with stocks as a backdrop. It's low- to middle- brow, but I suspect it needs to be to stay on the air. Something like Wall Street Week isn't going to make sufficient ratings for CNBC's advertisers.
Cramer warns you to do your own homework before any transaction. If you're so much of an idiot that you just run out and buy based on what some guy on TV says, then I put you in the same class as the subprime mortgagor who can't afford her payments after the reset. Shame on you for entering into a transaction you didn't understand.
Jon Stewart's rant against him isn't remotely credible. WTF does Jon Stewart know about any of this? Over the past two years, the vast majority of financial commentators got things wrong -- most of them more often than not. There were a couple of instances where Cramer got things right, and there were far more where he got things wrong. My loose understanding of what he's saying recently suggests that he's probably very wrong now. But so be it; that's the nature of the gig. You're going to be wrong sometimes.
one of his hedge fund cronie is probably long and he's pumping it up for them to get out.
Jim Cramer:
This guy gives example to every possible instance of stock manipulation, he 'defines' the
dynamic limits of being unethical, yet not quite lawfully worth enforcing...Yet being
Cramer...HE IS JUST THE PERFECT LICENSED STOCK ADVISOR TO MAKE A QUITE COST
EFFECTIVE EXAMPLE OF ... beyond lawfulness...he IS licensed, still? right? or like his
lawyerhood...no longer needing a license...? Harvard Law School Huh!
http://www.dickipedia.org/dick.php?title=Jim_Cramer
http://en.wikipedia.org/wiki/Jim_Cramer
lets find out which federal judicial district judges jurisdiction and get this
prioritized as a high value case...winning is NOT important....just the warning
flag is enought...file it and forget it....drag it out forever...is better..
This guy is a moron. You could wake up one day and bac could be a pink sheet stock.
Moron? No. Criminal? Yes.
if you haven't by now, read this article .... http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-1-of-15/
It's widely rumored that John Paulson owns a boatload of BAC around $10 and believes it is headed to $30. That is probably the extent of Cramer's "research", though it far outweighs his normal idiocy.
Steak: At my age it is better than sex...
heck yeah!
You have to watch this, a really good one from the Daily Show ripping Cramer on his praising of Lenny Dykstra:
http://www.cjr.org/the_audit/the_daily_show_gets_jim_cramer.php
This is hilarious.
A trifecta of Mr. Krasting on the upper bar. Its better than chocolate.
http://www.youtube.com/watch?v=yca7nbhyMVY
Cramer is perennially 'full of it.'
www.deepcapture.com delves into just how insane it can get via a case study of Dendreon Corp.