Cramer Goes From Buy To Bye Bye On BP, Loses Fans 33% In Two Weeks

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Wed, 06/09/2010 - 22:07 | 405026 williambanzai7
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Does anyone believe there are people who actually trade on Cramer ideas?

Wed, 06/09/2010 - 22:26 | 405081 I need more cowbell
I need more cowbell's picture

For Marla and radio Hedge

http://www.youtube.com/watch?v=GADtAYFB1V0

Wed, 06/09/2010 - 22:31 | 405084 IQ 145
IQ 145's picture

 Definitely. I believe this because I have been looking at the kind of things people type on internet blogs.

Wed, 06/09/2010 - 22:39 | 405100 MarketMonkey
MarketMonkey's picture

+1 brilliant.

Wed, 06/09/2010 - 22:45 | 405112 Fish Gone Bad
Fish Gone Bad's picture

People will want to engage me in conversation about stocks.  Eventually there will be the, "Jim Cramer said..." comment that comes out.  My response has always been, "Jim Cramer will lose you money.  He is definitely not your friend."

Thu, 06/10/2010 - 09:26 | 405693 Divided States ...
Divided States of America's picture

I am sure his charitable trust is accepting donations.

Wed, 06/09/2010 - 22:35 | 405093 Howard_Beale
Howard_Beale's picture

WB, there are poor pathetic morons that actually believe what he says. Yes, they don't control their finances since they have been diagnosed with Alzheimers, but they tell their kids that Cramer was in the room last night.

Wed, 06/09/2010 - 22:43 | 405105 Boop
Boop's picture

I know one...  Heck, I'm related to one.

 

 

Wed, 06/09/2010 - 23:44 | 405216 quintago
quintago's picture

expect an announcement of dividend suspension in the next few days. It's inevitable. The sstocks already hammered, and it needs to politically as well.

 

The stock will be at 15 in 2 weeks.

Wed, 06/09/2010 - 22:07 | 405030 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Are his ratings at ZERO yet?

Get hedged Cramer.  Theyz coming for you soon.  Very soon.  And no, they ain't buyin'.

TY for telling me to fast forward.  Cramer gives me the creeps.  Bavarian Illuminati and all...

Wed, 06/09/2010 - 22:09 | 405032 Gully Foyle
Gully Foyle's picture

Why is the BP spill burning?

http://www.ustream.tv/pbsnewshour

Wed, 06/09/2010 - 22:13 | 405043 Tyler Durden
Tyler Durden's picture

LMRP cap color is yellow. If you can see it it actually means BP is capturing more and more of the spilled oil.

Wed, 06/09/2010 - 22:25 | 405062 hedgeless_horseman
hedgeless_horseman's picture

Cramer is incredible.  In-credible.  Not credible.

BP producing oil and gas is far less incredible, culpable, indictable, and ethically compromised then the jack-asses ruining our markets and running our government.

Wed, 06/09/2010 - 22:37 | 405096 Howard_Beale
Howard_Beale's picture

I thought it was just more gas coming up...because it surely is more yellow. Excuse me, I just burped and it caught fire here in the Marsellus Shales.

Wed, 06/09/2010 - 22:38 | 405097 Howard_Beale
Howard_Beale's picture

Double burp...

Wed, 06/09/2010 - 22:59 | 405143 moneymutt
moneymutt's picture

yellow, really, kinda missed that, guess I wasn't watching gush cam closely enough....

the only thing LMRP has done, by collecting over 15,000 barrels of oil a day, is to prove that way way more than 5000 barrels a day have been gushing into GoM for 50 plus days....

BP unleashes disaster on foreign soil....and foreign soil is not in Lat Am or Africa but instead in USA, oops... BP RIP

Thu, 06/10/2010 - 11:41 | 406017 Inspector Asset
Inspector Asset's picture

This whole oil spill really reminds of of what happened in the credit markets in 2008.

The players Create the crisis , and the offer the solution.  (along with their experts).

Maybe the pipeline was just too old to repair, like the maintence issues of the twin towers.

Easier to just blow them up and collect the insurance payments.  Hire ourselves to clean up the job.  Manipulate the oil futures contracts abit, BP stock price abit, Insiders selling stock, and of course the winner going to Hal Burton: Buying the clean up company weeks beforer the spill. 

 

Yes this feels like the credit crisis of 2008. 

As far as being a false terror attack, I would have to say it's a pretty good one, in that no lives(collatoral damage) had to occur.

These fucks could give a fuck less about the damage they do the earth.

Unless of course it gives them a nifty way to introduce the long awaited Credit Carbon Tax Credit, what ever that is, go ask some one else to expalin it to you.

As far as the oil cartel I am convinced they would rather scorge the earth in one big world war, then to handle over the reigns of power (fossel fuel). They aint going anywhere, no matter how brillant these new energy sources are.  Big oil won't go down without a fight.

Wed, 06/09/2010 - 22:10 | 405033 boeing747
boeing747's picture

Shall I buy Enron, Cramer? Shall I read the fine printng screen of your program before asking you?

Thu, 06/10/2010 - 02:46 | 405373 Problem Is
Problem Is's picture

I'm sure Cramer the Clown has some Bear Stearns shares in his car trunk he would be happy to sell you...

Wed, 06/09/2010 - 22:12 | 405036 buzzsaw99
buzzsaw99's picture

BP = accidental high yielder. lulz

Wed, 06/09/2010 - 22:14 | 405038 Rebel
Rebel's picture

I subscribed to Cramer's paid service, Action Alerts. I never saw so much whipsawing  in my life. When he wanted you to buy, he would issue the most remarkable positive story suggesting that it was an absolute buy of the century. Then, next week he would say they are a poor company and sell. The 6 month subscription to his service might very well be the biggest waste of money in my life. That was some number of years ago, but after just two weeks of his service, I could see he was a snake oil salesman. It was before Mad Money TV show, so it was not so clear at the time what a con man he is.

Wed, 06/09/2010 - 22:35 | 405094 IQ 145
IQ 145's picture

 I wonder if they'd like to hire me instead ? I could get bald real quick: and I'd like to sniff up on some of that young assistant stuff they have in those studios. As far as the stocks go, a stopped clock is right twice a day; that oughta be close enough.

Wed, 06/09/2010 - 22:46 | 405113 Howard_Beale
Howard_Beale's picture

Wow...that is one hell of an admission. I respect you for that Rebel because we all make mistakes. Sorry he sucked you in.

Repeat after me: I am Jack's smirking revenge. Cramer will be unemployed in a year and his charitable fucking trust and personal portfolio will be handled by Bob Doll.

Wed, 06/09/2010 - 22:14 | 405041 rawsienna
rawsienna's picture

BP's lack of controls and mishandling is inexcusable. Obama's reaction is one that reminds me of Latin AMerican dictators.  Let's stop the spill and start the clean up. BP has a moral and legal obligation to the people of the Gulf - but they also have a fiduciary responsibility to its shareholders. Push them to hard everyone loses. Let the legal system work. BP may end up in bankruptcy one day - but that is not Obama's mandate

Wed, 06/09/2010 - 22:49 | 405120 akak
akak's picture

I suggest that BP stuff Cramer's sorry ass down that pipe to block the leak, and kill two oily birds with one stone.

Wed, 06/09/2010 - 22:13 | 405046 Double down
Double down's picture

He. is. unbelievable.

Wed, 06/09/2010 - 22:16 | 405052 rawsienna
rawsienna's picture

I think he is going to have a nervous breakdown.  His actions are bizarre. Would not be surprised if he cracks.  

Wed, 06/09/2010 - 22:17 | 405057 Rebel
Rebel's picture

I think he cracked before, when his hedge fund melted down.

Wed, 06/09/2010 - 22:14 | 405048 Lord Welligton
Lord Welligton's picture

That man is scum.

Wed, 06/09/2010 - 22:15 | 405050 Al Huxley
Al Huxley's picture

They've managed to destroy the fucking Gulf of Mexico, and potentially the Atlantic as well!  Surely the Gulf of Mexico is worth more than the market cap of BP, in which case, yes, they deserve to be trading at fucking 0!

Wed, 06/09/2010 - 22:44 | 405107 Me XMan
Me XMan's picture

+100

Wed, 06/09/2010 - 23:31 | 405198 DaveyJones
DaveyJones's picture

trading at zero should be the least of their consequences

Thu, 06/10/2010 - 10:02 | 405754 Shrimp Head
Shrimp Head's picture

http://www.youtube.com/watch?v=zjqY64WqC30&feature=related

This isn't the first time the Gulf was destroyed...

Fuck BP/Transocean

Wed, 06/09/2010 - 22:15 | 405051 Brett in Manhattan
Brett in Manhattan's picture

Amazingly, the morons programmers at CNBC still believe in this guy as a ratings generator and the rest of the on-air talent treats him as a God.

He has no ratings, no credibility. His asshole is still sore from the John Stewart rape.

What does this guy have to offer at this point?

Wed, 06/09/2010 - 22:50 | 405125 akak
akak's picture

"What does this guy have to offer at this point?"

His life would be acceptable.

Thu, 06/10/2010 - 02:51 | 405377 Problem Is
Problem Is's picture

"His asshole is still sore from the John Stewart rape."

Stewart sodomized Cramer like a priest on an orphan alter boy...

Thu, 06/10/2010 - 02:56 | 405385 AnAnonymous
AnAnonymous's picture

Probably a viewership base. I misread the title, reading something like Kramer lose 33pc fans in two weeks.

Did not happen so I guess the guy is still highly popular. That is what you ask from a TV show: to be popular.

Wed, 06/09/2010 - 22:20 | 405064 QuantTrader
QuantTrader's picture

what self respecting trader hangs onto a position for a 30% drawdown without some thesis?  after 5-6% i;'m out if a trade isnt working.  Unless of course you think you know something and have "conviction" (aka horse shit).  And if Cramer is your thesis well then please just give me your money.

Wed, 06/09/2010 - 22:26 | 405080 Brett in Manhattan
Brett in Manhattan's picture

Conviction Trade - A trade for which you're too stubborn to admit you were wrong.

Example: Leo's solar stocks.

Wed, 06/09/2010 - 22:57 | 405137 Al Huxley
Al Huxley's picture

Some wildly volatile stock maybe, with support 40% below the first possible buy, and an upside target of 150%.  But that's purely hypothetical and I can't think of a situation where its actually come up (even including crazy small/micro-cap stuff).  BP's chart is such a (deservedly) gigantic piece of shit that anybody who took Cramer's 'advice' deserves their subsequent ass-kicking.

Wed, 06/09/2010 - 23:13 | 405161 Howard_Beale
Howard_Beale's picture

We oldtimers care about Leo. Leo is a good man with Multiple Sclerosis and works hard at his site for Canadian Pension holders. He also revealed an amazing surgery that helps people with that ailment that I have shared with friends that have it as well.

I have written to him that I worry about him in his solar positions but he believes he is right. Ok. I accept that. But I still care about a man that is fighting a tough disease and spends his time looking for the positive. It is his therapy and I have been there. I think he is wrong but that's my problem. And you junkers as well. Not his. We are not going to change his mind. Just think if Gordon Gekko was in a world where none of us thought gold was a good idea and he kept posting and posting despite the vitriol and negative bullshit. I don't always agree with GG. He's very extreme. But it is the same thing. We are lucky that Leo provides very good insights into the pension system and that he hasn't said "FUCK OFF" to ZH.

Leo only sees the solar light at the end of the tunnel. But let's go easy on him, because he is a good man, and an alternate view to us bears. While he may seem totally out of his mind, he is probably just ahead of the game and it will cost him in my opinion. Most of his solars will follow oil down.

I don't agree with Pento--demand will die. But Leo is still here after all the junks, all the derision, and very little caring. There was a time 5 months ago and I have been here 11 months, that Leo wasn't torn to shreds. He doesn't deserve it. As I said in a post of my own earlier today, everyone has an opinion and an asshole--we all deserve to post our own opinions without being treated like a troll. Leo is far from a troll. He is no Harry Wanger or any other of the dark forces that lurk here. 

When it all comes down to it, he is a part of this community and has been here longer than most of us. Please stop beating him up. His positions will do that for him.

Wed, 06/09/2010 - 23:31 | 405199 Res ipsa loquitur
Res ipsa loquitur's picture

Leo's medical issues have nothing to do with this, so give us a break.

 

Sometimes the man brings things on himself. Nonetheless he is man enough to handle it and doesnt need a pity vote from anyone.

 

Leo is Leo. We all know that. He can handle the heckling.

 

 

Thu, 06/10/2010 - 03:23 | 405395 Howard_Beale
Howard_Beale's picture

Yes, you are right. Leo can handle the heckling. But it wasnt that long ago when I got furious when Cheeky came back and was getting junked to pieces and I wrote some big rants on that. Whether I had any impact is unimportant--but things changed. 

Leo is a human being that stands for what beleives in with his wallet. I disagree with him 100% in every way on his position on solars. I also think that even though he is a Canadian (and I blame Canada for everything Southpark style :) ), he has the right to say what he thinks without being treated like like a moron. That's all. He is a good man at heart. If you don't like what he posts, don't attack, move on.

Thu, 06/10/2010 - 03:20 | 405396 Howard_Beale
Howard_Beale's picture

My third double post in one night.

STFU howard...bedtime!

Wed, 06/09/2010 - 22:22 | 405068 Dapper Dan
Dapper Dan's picture

If garbage is any indication, the U.S. economy is strengthening. The number of freight cars carrying waste jumped 45 percent in April and May compared with a year earlier. From Bloomberg today.

I seem to remember Jim C and Harry H croaking about positive growth and a strengthening economy indicated by strong rail traffic numbers.  

I guess  a lot of people are just throwing out more trash....all the extra furnishing and furniture from there recently foreclosed on home and won't be needed them or will they even fit in there van down by the river.

Wed, 06/09/2010 - 22:25 | 405076 Monkey Craig
Monkey Craig's picture

when 40 million are on food stamps and many live with their parents, who needs 3 sets of furniture?

Wed, 06/09/2010 - 23:10 | 405163 moneymutt
moneymutt's picture

it's some sort of shadow stimulus thing...no doubt Fed is making things and then trashing them to bailout garbage haulers and to extend and pretend landfill holders...if America stops filling its dumps with crappy junk, then we will know its over...

Fri, 06/11/2010 - 00:07 | 407550 bluebare
bluebare's picture

Shadow stimulus thing = debt-fueled ARRA unemployment benefits extensions = consumption = waste.  It will change. The following from Wiki on ARRA --

Aid to low income workers, unemployed and retirees (including job training)

Total: $82.5 billion (more than 10% of the entire ARRA package)
  • $40 billion to provide extended unemployment benefits through Dec. 31, and increase them by $25 a week
  • $19.9 billion for the Food Stamp Program
  • $14.2 billion to give one-time $250 payments to Social Security recipients, people on Supplemental Security Income, and veterans receiving disability and pensions.
  • $3.95 billion for job training
  • $3 billion in temporary welfare payments
  • $500 million for vocational training for the disabled
  • $400 million for employment services
  • $120 million for subsidized community service jobs for older Americans
  • $150 million to help refill food banks
  • $100 million for meals programs for seniors, such as Meals on Wheels
  • $100 million for free school lunch programs

As best I can tell, this was all used up in 2009.  2010 consumption rates EXCLUDING recently ended federal ARRA benefits such as these are just getting reported.  Add publicly reported reductions in city and state payrolls to the mix and any forecast for near-term improvements in consumption/waste generation that isn't accompanied dramatic private sector employment increases strains credulity.  Tremendous pressure building on this sector (that is the fabled US consumer who drives 70% of our economy.)

Investment implication -- Put SCC (2X inverse McD's, F, WMT, TGT) on your watchlist and keep an eye peeled for a sharp dropoff in consumer spending.  Act quickly when the evidence presents itself as a corresponding turnaround is not likely to present itself quickly.  Profits for months can be made as consumption double dips and consumer discretionary stocks decline due to slimmer profits.  Just checked projected #s for this month coming out tomorrow at briefing.com.  It's negative down at least .3% from last month but still positive (+.1%, consensus) but turning negative (-.2%, briefing estimate) excluding cars.  While poor, this is not enough to move yet IMHO.  Census workers are probably filling the lost benefits breach. Perhaps next month will confirm a more decisive downturn with a deep enough decline to initiate a confident entry into SCC.

In respect for ZH and its denizens, that's a quick take on the key fundamentals driving one possible profit making move in this razors edge climate that I haven't seen here, for what it's worth.

Wed, 06/09/2010 - 23:31 | 405191 Conrad Murray
Conrad Murray's picture

There's a commentor with some insight regarding the trash thing in here somewhere.  I'll see if I can find it.

Edit: Here you go, http://www.zerohedge.com/article/feds-rose-book-out-improvement-and-kool...

Thu, 06/10/2010 - 00:47 | 405268 Benzass Miphist
Benzass Miphist's picture

I downsized from a 15' X 30' storage unit to an 8' X 8', (on my way to a 0' x 0').  I think I filled up one of those freight cars by myself with crap I didn't need to hang onto as the storage costs in a year were greater than the garage sale value.  Widespread vacancies in storage units becoming commonplace. I'm thinking of buying puts on Public Storage to recoup some of my rental fees.

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