After months of constant and relentless pumping, last week, Cramer dropped coverage of MRVL. He did it with a look of anger and pain. When he first started covering MRVL, the stock was trading in the 30s. Then it sank and finally getting to the 15s, finally Cramer does it. He hits the sell button. Now MRVL is up over 10% from when he hit the sell button. There were countless times where I heard Cramer state to a caller "Ive got to get you into MRVL." Countless articles on thestreet.com. Finally there was that fateful day in the winter of 2006 where he drew a line in the sand telling his audience that he wouldnt give up, he would never give up. Finally Cramer has released MRVL and now its time for it to run. Boooyahhh!!!!
there's only a couple ways that cramer is better than a dart thrower, and you've hit upon one of them - though not in the way he'd like. NOT a "fade every cramer call" long term. but when he finally succumbs to something he's touted incessantly (or ignored / chastised forever), it's a pretty good contrarian indicator. i don't do it much anymore (i only fade some of his short-term pumps), but i've made some nice coin off him by doing that. backtesting his stuff actually paid off...
I am not following Cramer at all. I am stuck in my own $%^! but if he has 40% of his calls wrong so what? If he can be right 100% of his calls, we won't have market. It would be just sit home and just listen to him and at night get rich. The good thing about his program is his passion. He would have told, "ok sell MRVL but maybe I am wrong and maybe it is time to buy it or in the second thought, I am not sure," no one would watch his show.
Jim Cramer is one person who you secretly hope is eaten by wolves, literally or figuratively, and can have no shame in feeling that way because most others do as well...he's a downright piece of shit. Love to see calls go against him.