Jim Cramer

Gold has risen to new record highs in pounds and euros as concerns about contagion in the eurozone and stagflation in the UK deepen. The euro has fallen sharply in international markets and is down 1.5% against gold so far this morning. European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis as concerns deepen over the sovereign debt crisis spreading to Spain and Italy. Spain’s 10-year yield spread over Germany widened to a euro-era record of over 300 basis points. Italian and Portuguese bonds are also under pressure with Portuguese 10 year yields surging to 13.4%. The risk of contagion affecting European and international banks and a new banking crisis rises by the day. Meanwhile, in the U.S., President Obama is seeking a massive $4 trillion in a deficit reduction package. Failure to do so may lead to a U.S. and global sovereign debt crisis.

There are women (and men) who will do anything for a price. Then there is Jim Cramer who will go from hating Obama (and the impact of his policies on the market, all the while misinterpreting such impact: i.e. the brilliant "Passage of the healthcare bill means a double dip is coming", and other such pearls), to loving the president, in the span of 40 minutes just so long as the market does not vommit for the duration of a teleprompted address. And the master of momo mediocrity may want to sit down with his "Stop Trading" friend Erin Burnett so two can clarify the official CNBC stance on Obama and his policies: Burnett: "I think the problem is you have the fastest job creation in this recovery than you have in any recession in 25 years... Technically speaking this recovery has not been tepid." Cramer: "I can show you chapter and verse how this is the weakest post-recovery environment since World War II." Sigh. Then again, if it makes for good theater, and the filling of some free ad slots in another Nielsen-rating impaired cable station, so much the better.

Just in case the consensus was that nobody could have possibly predicted today's market action, here is Jim Cramer... proving the consensus was spot on. From CNBC yesterday: "The “Fed said good things,” Cramer said. “Buy.”"

Have the problems at the troubled stock peddler just gotten too much for the existing management team? A better title for the job posting would have been "Will Trade EBITDA Adjustments For Food."

Forget April - for Jim "Mad Money" Cramer March may well have become the cruelest month. First, we broke the news that Cramer's TheStreet just became the object of an investigation by the SEC. What should be more troubling for the Mad Money Maestro is that the latest Mad Money Nielsen numbers just came in. And they stink: March was the weakest month for Jim Cramer's show in well over a year. After posting a slight improvement in February courtesy of the market's consternation with Greece, March was a collapse. Expect many more sound effects, props, gimmicks (luckily, no incremental cleavage is possible) shortly. Also expect much more pro-cyclical stock advice (buy if the stock market is going up, sell if vice versa), and more big picture proclamations that are refuted within 24 hours. Also expect many more ads for male incontinence products as the show has to resort to showing increasingly "distressed" advertising inventory.

Jim Cramer may be in hot water with the SEC over his theStreet.com, and he may be a mouthpiece for the biggest ponzi enabling organization the developed world has ever seen, however, he did have some interesting and spot-on observations on the just passed health care bill. In a nutshell, and for once we agree with Cramer, if futures are not limit down right now, it is because of the same bidding hand that has kept the market going straight up at a 30 degree angle for the past year.

Seek and ye shall find. Never has this been more true than combing through theStreet's (much delayed if at all available) financials. As investors may have been digging through the company's SEC reports to find out just what the financial website's unadjusted EBITDA is (hint: much, much less than its "adjusted" cousin), one stumbles upon this gem just filed in today's Form 12B-25:

As a result of the need for the Company and its independent registered public accounting firm to focus attention on matters related to the Company's previously-announced review of the accounting in its former Promotions.com subsidiary, which subsidiary the Company sold in December 2009 -- including matters related to the preparation and filing by the Company in February 2010 of a Form 10-K/A for the year ended December 31, 2008, a Form 10-Q/A for the quarter ended March 31, 2009 and Forms 10-Q for the quarters ended June 30, 2009 and September 30, 2009, respectively, and matters related to an investigation commenced by Securities and Exchange Commission in March 2010 -- the Company requires additional time  to prepare its financial statements, assess its internal controls and file its Form 10-K for the year ended December 31, 2009 ("2009 Form 10-K"). 

Oops. We can't wait to see how Mr. Cramer will explain to the Mad Money faithful this particular twist on the hangover of the show's five year birthday bash. Also, we wonder if CNBC will finally cancel the ludicrous Jim "truth" Cramer campaign once this news breaks. We doubt it- in the quest for evaporating eyeballs, all is fair.

"While I understand your need to be “on the map,” and I understand the “public figure” exception to the libel laws, I do think that given your backgrounds and your histories, you are taking too much license with your Jim Cramer says Sell TheStreet.com. I believe that level of lack of responsibility is beneath you. So please take it down and apologize to me so we can move on. Fair? Think about it. Think about how much better you are than that? If you really need to sell subs just sell them, don’t trash me to do it." - Jim Cramer

Not much commentary needed here.

We are repeating Jim Cramer's buy recommendation on CIT from yesterday... because it bears repeating.

Jim Cramer calls a top in Treasury Bonds. So it must be.

So, Cramer says milliseconds don’t matter for the average retail investor. But those milliseconds have contributed to a multibillion dollar high frequency trading industry. This money is not created out of thin air (sorry, Ben Bernanke not in this part of the business). Somebody is losing here. And, the retail investor is one of the losers.

For anyone still caring to listen to Cramer's recommendations, we present the case of Foster Wheeler, which Cramer said was a "buy, buy, buy" at $80, and mentioned it about 20 times over the past year on its ceaseless way down as one of his all time top picks. Please indulge in the company's 1 year stock chart. As Cramer said early last year "many of you say 'the stock is at [$75 post split] it's over': Stay tuned - there's much more ahead"...