Cramer has been uncanny in his ability to lose traders/investors money, but his dark wizardry has been most apparent in the Biotech sector this year. After telling investors nearly the entire year to drop all the small cap biotech stocks for NSTK (when it was trading at 14-16), the stock now trades at 4. But today is the real corroded jewel in his tin tiara. He basically has told every caller over the past year to dump the large biotech stocks to switch into CELG, the stock run by his neighbor and "friend, buddy, pal"....even when it was trading well into the 70s. Well today, it is down over 35% from its highs and touched a 52 week low. How does this guy retain even an iota of credibility?
I didn't think anyone still thought he had any... why, did you put money into this stock based on his recommendation?
why let it bother you or anyone else . you they get what they deserve for listening to this idiot in the first place .
No offense, but if you held that into this past weekend, you sort of deserve it. Just do one yahoo search and find out why. .
I've never invested a dime based on his recommendations, but I often trade with or against him. His "Stop Trading" segments on CNBC used to move stocks significantly. But with each successive blowup like today, and as Leonard the Monkey emerges as the relative genius, the ability to trade off him is even more diminished. As an intraday trader, just a little bummed when another trading opportunity fades away.
If you want something to watch, CLUB. I bought it going into the close last Thursday at 9.65, Friday above the up pivot at 10.30, and today above another up pivot, 10.86. I don't listen to fundamental news to trade usually, but this does have a good story, and I think this is the start of some good momentum. I might work some retracements at this point because it has run up so much. I posted this idea last Friday after close, but no one really seemed too interested.