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RIMM Plunges After It Misses Cramer's Mobile Internet Tsunami Sermon
In today's sermon: Buy on the dips, 101. (psst, he ran a hedge fund, it's ok, trust him, plus he's on Teevee)
Update: here is the latest from Jimbo hisself:
Jim Cramer
RIMM
9/24/2009 5:03 PM EDT
RIMM giving you a chance to buy the Mobile Internet at reduced prices as i said could happen in my video today with Alix Steel.
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Oh gosh I can't wait until that idiot is permanently discredited and his blood is demanded by the hoards of impoverished retirees. Time CNBC is held accountable.
Ever who the old saying "a sucker is born every second"----that is how Cramer makes his living. I used to be optimistic and think that "hoards of impoverished retirees" would stop watching him; then I realized that those suckers that were born every second turn into "suckers retiring every second", so net, net, Cramer will always have a barrel of fresh fish to shoot at. Really sad, but true. Yes, someday Cramer will no longer have an audience---trouble is, there is already some other criminal like him waiting in the wings to take over his spot. In the end, it never ends---we might, but the corruption will live on.
P.T. Barnum lives!
This is rich.
Anyone who has ever documented his complete track
record knows how rich, or actually, poor.
And he keeps coming up with caller compliments,
which goes to show PT Barnum and WC Fields were right.
Was he schnockered on Tequilla the other day?
Isn't that against FCC rules, or is it ok on cable
babble?
Funny how the SEC lets JC give bad advice and brag
about it at the same time.
Any GE CNBS lawsuits could weaken the 1st Amendment...
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3251493
If it were going to happen it would have already. Can that guy be anything but a psycopath/sociopath? There is no way to cut the data on his recommendations to make them look like they make money. The reason he was successful in his hedge fund it is that he was just bullish when that was the trend.
How do you know he was successful at running a HF? His stint lasted a very short time. I can't imagine that anyone would give up a gig managing other people's money for 20% of the profits if you are any good at making profits.
He was close to getting pinched and was told he had to walk away from the position. Still is involved with the same players, though.
Waiting patiently for either Cramer D Clown or his clown show to be canceled with extreme prejudice.
That would be time to buy buy buy.
We should have a mobile internet Tsunami ETF!!!!!!!!! BUY BUY BUY.....HA HA HA ....BYE BYE BYE!!!
I cant believe all the secondaries that busted today.
AVTR, PALM!, RTK, OPEN, ETFC!, OPEN, BRKR, AMR!, SFD!, HBAN!, GNW!, CREE, ABX!, ATPG, FFH, FFCH, GET, ARE, CNXT..
who's holding the overallotments????
VERMONT TRADER
Yeah but he got rid of his shares.
I started to watch but had to stop because I could feel my brain shriveling inside my skull.
I had a lot more time for Mr Kneale than this idiot.
DavidC
DavidC
David Coulthard maybe
is this a kindergarten class? or cnbc's version of a remedial economics class. i assume they are one in the same.
talk about a guy who could use a tranquilzer dart......
seriously make it stop!
The 4 horsemen are now 3. God it hurts to watch him. Crazy as it sounds, I feel embarrassed for him.
I heard the CIA uses tapes of his show as the latest torture method when water boarding doesn't work.
Lizzy, I know you have eyes for that charlie brown but will you marry me?
Give him a bath first lizzy. You might get a urinary tract infection. LOL
What is up? Is Lizzy darling looking for a braveheart!!
I am free,can I be the lucky one!
Thank you.
Lizzy - I cannot even imagine what watching change the focal point every 1.4 seconds Cramer would be like with the flu since I cannot stand it anytime.
Hope you are feeling better. All The Best
Layne, you are a sweetheart!
And as bad as Cramer is the horror of day time TV is much worse. The idiot box does not even come close to properly defining what i saw today. In 60 second clips, no less.
A woman from a TV show in the 1980's, has for some unknown reason decided to tell the world (and write a book) that her father shot her up with drugs and then proceeded to shtup her for 10 years.
If i wasn't nauseated before....
Listening to Volcker's testimony plus the q&a was the highlight of the day. Irrespective of the fact that he either forgot his denture cream or had a big wad of chew in his mouth.
Anytime Lizzy...
You bet on the daytime TV gig. Becoming nearly housebound due to service connected disabilities has made this fact painfully clear. Imagine being unable to escape without the net, good books and a good movie for years...
ROFLMAO, watching Volker today reminded me of watching Joseph Mason on the tube. He always looks like he has a huge pinch of Copenhagen between his cheek n gum.
Good to see your sense of humor.
How is this guy not being investigated for fraud?
Why? He didn't get investigated for this. He talks about using CNBC to disseminate lies and rumors when he was running his hedge fund and it didn't stop them from employing him.
http://www.youtube.com/watch?v=gMShFx5rThI&feature=related
Watch the clip again. Notice the giant disclaimer at the tail end of the video? That covers CNBC's ass and allows them to keep Mr. Unfrozen Caveman Hedge Fund Manager on the air to mislead and confuse the masses.
I can't understand what he's saying.
You are not supposed to understand. Just see the symbols on the screen and buy, buy, buy.
I felt like watching Sesame Street.
Come to think of it... CNBC should get The Children's Workshop on, replace the presenters with hand puppets.
Imagining equivalent of Dennis Kneale... I KNEW he had a fist hidden somewhere...
Wonder who's the puppet master?
It makes me wonder about his audience.
They're just folks trying to make a buck. I just wonder where Cramer's pump empties to.
It's a listed as a tag on this post.
It's easy for Cramer to talk about internet tech going up because he claims huge inflation is coming our way. I'm sure he thinks that translates into a stock market rocket ride.
I see a panicked Cramer here. He knows the market is "weak" right now and is begging everyone to keep pouring money in to prevent a fall. In spite of how he acts, he isn't an idiot and knows he has to act confident to buoy his viewers' sentiment.
I wonder what anyone who bought RIMM EOD because they thought the fall was almost over is thinking right now. I doubt anyone expected -9.5% AH. Wow...Nasdaq should be mighty interesting tomorrow.
JC has been spectacularly wrong about RIMM for a while now. RIMM had made a move to 85 in mid June and then went on a 3 week slide to the 60's. In early July, with RIMM hovering just under $70, JC came on TV and said "RIMM isn't done going down". This comment alone seemed to knock about 10% off the price the next day - down to the $63 range - at least until the close of the day. By the second day it was back up ABOVE his sell price.
And then, on day 3, RIMM announced it has signed 1.1 million new subscriber over the weekend.
How could JC have been so brash to call RIMM a "sell" when anyone who was following it (and anyone who dares to go on TV to comment about it should at least have known this much!) knew that RIMM has just signed a new domestic carrier and started sales that coming weekend. That means JC is either reckless for not knowing about that new carrier deal; or foolish for thinking that it would count for nothing and reckless for not telling his audience that it might be worth noting the launch of a new carrier.
The third day after his "not done going down" call it was up big and within 5 days it was back above $75. A nearly $15 move in just a few days.
I have no idea what JC was doing - he can't be that stupid, can he? So now this. JC should stay out of the RIMM business. Whittle it down to the 3 horsemen, JC. 4 is just too many to keep track of I guess.
His fckin audience, if you listen carefully, are all friggin hillbillies from the central states..GOING HOWDYYYY CRAMER...BOOYAHHHHHHHHHHH!
lol i cant stand those booya mothafuckas. but i guess thats the type of audience his show attracts
In a way, it's a good thing, really. Those people deserve to lose their money, so it's a good thing Cramer is around to ensure that natural selection still leads the lemmings over the cliff.
Coastal elitism? It's an oxymoron if you think about it.
Take away the 50 miles from a coastline in the US and the nation would be a very different place.
One of the worst slights one can make in the mountain west is to call someone a "coastie".
"California" has practically been a curse word in Colorado for about 30 years.
Whatever it takes to help you stay where you are is OK. So many here are devo, damned, and have no interest in populating the heaven to which you aspire.
As an Oaktown native I would like to know to which heaven you believe other may aspire to based upon geographical positioning.
My blue heaven, where the arugula grows and the padres don't burn you at the stake.
classic
And....you, careful listener that you are, can't hear the irony in what you just said?
Nah, didn't think so.
I'm a central state hillbilly.
And these guys are real hillbillys. It's totally not a manufactured band made up of swedish models.
http://www.youtube.com/watch?v=2slbO63Qa6g&feature=related
I'd like to snap this guys neck
When he says buy, buy, buy. Just sell, sell, sell.
JC has been spectacularly wrong about RIMM for a while now. RIMM had made a move to 85 in mid June and then went on a 3 week slide to the 60's. In early July, with RIMM hovering just under $70, JC came on TV and said "RIMM isn't done going down". This comment alone seemed to knock about 10% off the price the next day - down to the $63 range - at least until the close of the day. By the second day it was back up ABOVE his sell price.
And then, on day 3, RIMM announced it has signed 1.1 million new subscriber over the weekend.
How could JC have been so brash to call RIMM a "sell" when anyone who was following it (and anyone who dares to go on TV to comment about it should at least have known this much!) knew that RIMM has just signed a new domestic carrier and started sales that coming weekend. That means JC is either reckless for not knowing about that new carrier deal; or foolish for thinking that it would count for nothing and reckless for not telling his audience that it might be worth noting the launch of a new carrier.
The third day after his "not done going down" call it was up big and within 5 days it was back above $75. A nearly $15 move in just a few days.
I have no idea what JC was doing - he can't be that stupid, can he? So now this. JC should stay out of the RIMM business. Whittle it down to the 3 horsemen, JC. 4 is just too many to keep track of I guess.
But, but..."I said it wasn't done going down!! ::smugly rolls up shirt sleeves higher:: It goes down 10% the next day?? ::throws arms out:: That's the dip! That was the end of the move down! If you have been paying attention to my show, these are the opportunities to take advantage of! Don't listen to the bears. This market is resilient. ::camera zoom:: Stick with me. I'm taking care of Cramerica. ::slimy smile::"
That about sums it up. His calls are only right half the time, and only good for less than 1 trading day.
It's the interweb...just buy anything that is involved n that...it's the latest craze...things have changed forever...the interweb is a money tree! Buy buy buy...
Cramer is the tool of all tools.
My favorite is when he sits down and talks seriously to people. I mean who buys that shit? He talks all softly and hangs is head low like he is a really sensitive, insightful, humble guy. Hilarious. I wish someone from his high-school days would come out with some pics and some stories...
No kidding.
He's trying to start a new "dot-com" bubble over mobile devices.
I mean, really, Cramer? ... REALLY?
Cramer is the sham-wow! guy of stocks.
Sham(e)-wow!!!
...or Jerry Springer for the trader-set?
I misread Jerry Seinfeld there for a moment.
"Cramerica" =/= Kramerica. Not as clever. Not as funny. Not as cute.
He should roll up his sleeves more, to add to his blue-collar street cred.
I say go for the sleeveless button down.
I think his callers are all one guy doing voices...I'm thinking Noel Blanc.
Mel Blanc indeed..thee-ah, thee-ah, that's all folks!
if you subscribe to realmoney- you'd see he has been selling ALL DAY and is not buying as of a few days ago
He looks like Uncle Fester.
My $0.02 on the Cramer phenomenon. Most Americans are in the stock market either thru their 401K or individually. Most Americans are sorely lacking good advice. Methinks much of Cramer's audience go to him because he really does know the stock market well and he gives out advice freely. If I didn't do the whole markets thing for a living I would hardly have the time to make informed decisions. Cramer himself totally sucks donkey balls but someone has to fill the void of supplying objective stock advice to middle america.
good point. can't remember who said this about him, he is a trader just looking for the next trade doesn't really care if it works. trying impressive his viewers with a good trade leads to no objectivity by Mr. JC.
Cramer is just trying to laid. He'll give you bad stock advice on purpose to make you poorer, then bang your girlfriend when he comes to your city.
Steak wrote: ' Methinks much of Cramer's audience go to him because he really does know the stock market well and he gives out advice freely.... Cramer himself totally sucks donkey balls but someone has to fill the void of supplying objective stock advice to middle america.'
He is market savvy...but FYI http://www.deepcapture.com/jim-cramer-is-a-complicated-man/
Connect these dots: a r r o g a n t l i t t l e b i p o l a r w e a s e l
What is a "Lar Weasel?"
Somebody gave three possibilities,but forgot the most important one. Of course he knew that RIMM had new domestic carrier,but he mentioned that it is not done going down o solicit help from the public to short the stock so that his buddies buys it when it is down and sell it on the pop. I believe that he uses his shows to transmit signals, to certain audience................
Yes well I didn't want to go so far as to accuse him of trying to fleece his audience for the benefit of the "east coast power corridor". But I'm glad you did.
Cramer just said tonight that he knew this market was getting ready to sell off. What was the tell? Someone last week on CNBC said Dow 10,000 was a given.
Isn't that what Cramer was saying?
And don't forget, this fool is pushing IYR now too!
Who didn't see this coming? Verizon's slowly falling Storm price (now $50 after rebate) that culminated in the buy-one-blackberry-get-one free offer. I mean, really. Mobile internet t$unami. The tide disappears first, Cramer.
Why are we all picking on just Cramer when we can pick on his awesome stockpicking buddies like Lenny Dykstra and Ron Insana?
thought i read last week that 'nails' had pawned his 1986 series ring...but actually the pawn shop made more money off it.
Dykstra would've done better sticking to car washes
OUTFRIGGINSTANDING stuff TD.
"MARK IT ZERO, DUDE"
RIMM down 11% afterhours. Hee haw! Cramerica gets rammed.
Cramer, as most on the "teevee," is paid to do one thing and one thing only:
Bring in ad revenue and be a "celebrity."
Those things he must do well, as for his actually giving good advice, well now, do we really expect celebrities to have brains too?
Oh, that's right, we do.
NBC has a long history of clueless experts leading their viewers to financial and physical ruin is par for the course. NBC, and all networks, only produce stories that keep their advertising dollars happy.
Anyone that takes media's advice about anything stands to have their asses handed to them. As will be evidenced when millions find out that "free" health care is going to bankrupt their families.
That's two things...
Of course "free" invites abuse. What we hire representatives for is to incentivize or credit good behavior and disincentivize or tax bad behavior. The less you use, and the more you follow your prescribed regime, the better the service. The opposite is also true.
As for following one who claims to know and talks about it:
"Thinking is the hardest work there is, which is probably why so few people engage in it. - Henry Ford (1863-1947)
Usually he's just an idiot, this time he is an idiot and he's visibly intoxicated.
Okay. If nobody else is going to say it then I will.
Nice RIMM job Cramer!
bada-bing!
I have puts on PALM, am short AMZN and bought QID today .. and will probably be buying a lot more QID tomorrow.
I'd worry slightly over those PALM puts as it just might be a takeover candidate. It is a heck of a lot cheaper than RIMM, and it has 100,000 legacy warez. Someone could buy it, inject it with cash, and give RIMM a run for the money. PALM could run Palm, Android, MSFT Mobile, Linux, Java and more. Imagine a platform neutral device, or heck even a dual or triple boot device. But I digress. MSFT raised a bunch of cash (though they wouldn't support a software neutral device) but SNE might.
My all time Jimbo Creamer Favorite........
http://www.youtube.com/watch?v=SWksEJQEYVU
Great show but I think Jim Carrey could have done it better.
ok, I'll scoot out on the limb and you can saw it off. Who amongst the crowd bats 1000? The man has been very successful as both a playa and pundit. I am not a fan but I acknowledge his success. Unfortunately, he is a shill for THE GENERAL. His flaw is that his position with the ruling elite is more important to him than the truth. Count him among many whom have sold out to those living in the east coast power corridor.
when he's horribly wrong you can't find him...two days prior to Bear Stearns falling into the good graces (greedy clutches, dependent on your view) of JPM/Mr Dimon, Cramerica said BSC would be okay.
He's voluble, I give him that much. Can't stand to listen anymore
Wacky, are you aware of the academic studies that have been done measuring his performance on Mad Money? His alpha is essentially zero. You'd have done just as well buying and holding SPY shares as following his stock picks.
I don't care how well he allegedly did as a hedge fund manager; what matters is what he says on the show, and you'd be better off consulting your tea leaves and Tarot cards than following Cramer's advice.
His alpha isn't zero, its negative...
Long term performance of most hedge funds is WORSE than the S&P.
Cramer says it's a 3-5% "Garden-Variety Decline."
That means a major crash is imminent. SELL SELL SELL!
Cramer needs to retire to a remote island, far away from civilized society.
This is brilliant!! Homeless jobless people will need MOBILE internet!!!
...to continue trading on Cramer's recommendations online...
I don't know if I should tell you this, but Cramer and I go way back to when we were hijacking trucks and selling cigaretts on the streets.
We eventually moved up into bigger and bigger crimes like the Lufthansa heist, and then helping Bernie Madof get his ponzi scheme up and running; boy those were some sweet illicit profits.
But, while I went on to influence peddling in the Obama administration and scamming out of work rubes on the TV with my "Jeff Paul, Internet Shortcuts to Millions" infomercial.
My comrade in crime found a cozy gig on MSNBC destroying peoples fortunes with shoddy equities analysis like RIMM.
Atta boy Cramer, just Remember Pauli's gonna want his cut of the kickbacks you made on that recommendation.
Man, some people have all the luck when it comes to being an Uber Villain.
Criminal Syndicate Member Since 1913.
Where is the punchline?
He does a really good job talking in platitudes about the market but he insists on singling out specific stocks.
Santelli shoots his mouth off too, but he never says "sell, sell, sell, the Dollar" instead he says, the dollar is being "sold, sold, sold down the river". Big difference.
Cramer's gotta go, but only if he is replaced with Dylan Ratigan and not Carmen Wong or Suzy Orman.
Please don't mention Dylan in the same sentence with the Booyah man. Dylan is the master shortstop of the BS statement. Crammer's disclaimer was first " I'm here to educate you", then "...not just to educate you, but also to entertain you", then "....not just to educate you, but also entertain you", and soon "I'm here only to entertain you." He is truly the modern Humpty Dumpty, trying to get back together again channeling Howdy Doody.
booyah!!!
Hey lay off my buddy JC!!! Okay so Mad Money aka "Pee Wee's Playhouse - Wall Street Edition" is not everybodies cup of tea. What everybody fails to realize is that the panel with the big buttons is directly wired to the Goldman prop desk. On certain camera angles you can see ticker symbols on the buttons. Every time he hits one it sends out a multi million buy order. I've got all the buttons mapped, as soon as JC clobbers one I've got my order in. Okay it's not front running but it's damn close. Don't believe me?? I've got a garage full of vintage Ferraris and a hot wife (who is addicted to plastic surgery, among other things) to prove it. Keep up the good work JC!! Somebody loves ya!!!
CNBC better have good security and locks on their doors, they are tricking a lot of desperate crazy people that on their last buck!!
You couldn't pay me enough money to do what those CNBC Shills do!
Why would anyone ant to own RIMM instead of GOOG these days. Google has the android operating system coming out that is supposed to be the best thing since sliced bread. It can be open source and customized and everything. Google > RIMM for any play related to this field.
RIMM may well be the Palm of the '00's
Phones are failing as snooping devices. I think they will go with plan B.
http://www.theinquirer.net/inquirer/news/1556136/mems-nearly-recession-p...
contrast with Russ Napier & Chris Wood at CLSA
http://www.youtube.com/watch?v=lrA2O3PPY74
Did any of you RIMM bashers actually look at RIMM's numbers?
You guys have it all wrong. It's not the retirees that are being brainwashed by Cramer. It's the college kids. There is a whole generation of Booyah trained analyst looking to get analyst jobs on the street. In five years, Goldman will upgrade some stock and the rationale will be "Stock that trade over 80 tend to go to $100."
Yet another article about Jim "ass-kisser" Cramer:
"A123 Systems (AONE) made its public debut today and climbed 50% above the initial offering price after getting the thumbs up from NBC’s Mad Money host Jim Cramer who hailed it as the “Hottest IPO of 2009.
Noticably absent from Cramers pitch was the conflict of interest which, one would think, should have prevented Cramer from speaking about the stock at all.
Cramer works for General Electric, the parent company of NBC and MSNBC. He appropriately makes mention of the relationship between his network and GE whenever he mentions his parent company (which he also holds considerable shares in).
In April of this year,GE made its SEVENTH investment in A123 systems. GE is A123’s largest investor and owns a 10% stake in the company. A123 even has a GE executive on its board of directors. Mark Little, GE’s Senior Vice President and Director GE Global Research, joined A123’s board of directors."
http://www.chartingstocks.net/2009/09/a123-systems-aone-what-cramer-didn...
LOL!!! Almost as good as his housing bottom call for last June.