posted
I don't follow Cramer's picks though his show is amusing to watch. You hafta remember his show airs AFTER the closing bell so by the time he plugs a pic everybody is on it by opening bell the next day. By then the pps has usually gapped up and you're buying near the top. I hate to use the term pump & dump for dear old Cramer but that's essentially what he does. Unless you're experienced in after hours trading I wouldn't jump in on anything he plugs.
Some of you may recall that he had his hands full last summer explaining to the press, NY Post, and his viewers about his hedge fund manipulaton schemes. Thereby one could "influence" the pps of a stock by dumping/buying tens of millions of shares at a time through various hedge fund transactions. A common form of manipulation by MM's, hedge fund managers, and corporations. "I'd never admit to that on my show", he said during an interview with an unknown financial columnist.
Cramer is fun to watch but I regard his antics as pure entertainment and nothing more.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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posted
True. You can trade after the bell. I do it ONLY on some solid PR with a given stock the day before. Something I know will likely move. But you're showing the MM's your cards BEFORE the game begins the next day! They already have enough of an edge over John Q. Public as it is. Why give them any more??
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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posted
i rarely watch the show but the one time i did he made me 50%. i bought DYN at 6 when he called it a buy and i sold at 9. haven't watched the show since, LOL.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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He is a pretty smart guy though. Perhaps his picks are skewed simply because he is on tv. I'm sure his personal trading is doing just fine.
Posts: 1504 | Registered: Sep 2004
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Classic Pump N Dump scam. I have no doubt he loads up on these stocks he pumps the day of the show, pumps the stock like crazy, and then sells when the stock jumps.
Posts: 44 | From: Atlanta, GA | Registered: Apr 2005
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