HBAN (a regional bank) was pumped by Cramer yesterday for a nice pop. I assume that these recent naive longs will start bailing out once they are a bit in the red. So, is it safe to short here? Typically how long do Cramer induced rallies last? HBAN has had some giant short squeezes recently, so shorting it has its dangers.
Oh no, because you are supposed to wait 5 days before buying, but if the stock just takes off and never comes back, you should have bought on his call right away!
When I have an overnight short position on, I'm usually a bit nervous. But if I see Cramer pumping the stock, I breathe a huge sigh of relief.
For verification of my Cramer pumping claim, I direct you to the 2/20 post on my journal: http://www.elitetrader.com/vb/showthread.php?s=&threadid=132626&perpage=6&pagenumber=55
It's a BS statement because some of his stocks keep on going up after he pumps them. Let's say you are short TSRA before he pumps them on the evening of Tuesday, May 26th. You're happy now you are short and that it has gone from $20 to $27? Maybe it worked out once for you, but you just got lucky.
Damn, that was a solid pump, Cramer! Who would short a company that a) hadn't yet tested 52-week highs, and b) has 2009 earnings projections 10 times 2008??? If you were short TSRA on Tuesday, May 26th, time to put the training wheels back on.