Cramer was defending his July bottom call in September. When his bottom called turned out to be wrong, in his usual sleazy fashion he tried to backtrack and say that he was only talking about Fins and Housing stocks, which hadn't returned to their bottoms, yet. Of course, now that his bs can't be explained away, he comes up with a new song: Sell, sell, sell. As far as using him as contrarian indicator, I wouldn't short a stock he talks about in the lightening round. However, when he uses ten minutes of his show pimping a stock hard, as he did with RIMM, JOYG, that's when you want to consider a short. Those stock tend to experience a small bounce of about 10%, then tank hard.
Just shows if you have abig eough mouth you can get away with anything. He was callnig a bottom weks ago..that's forgotten now and he's the saviour telling everyone to sell last week! So it doesn't mater what you say in hisd position. Just keep sayign something and it'll be ok.
There's a half page ad in todays journal for Fox Business channel that quotes some of Cramers recent "calls". Its titled "Can You Afford to Watch CNBC?"