Thanks, second person to recommend this worthless site. Again, I can't stress enough how you need to buy and have a plan, not buy and hold which is what this website does.
Lets say most of you are joe average investors who follow cramer. You have $10k in the account and use a discount broker. You take a position of $1k , not any larger than 10% to reduce risk ala Cramer. Round trip, your looking at $25 in +$25 out + slippage to trade one of his picks. Thats 5% right there gone on each position. So it doesnt really matter that Cramer made 5% because your account sizes are small and commissions are large. So the best thing would be to go with IB, you can at least reduce commissions to 1% or so. That might be the different between making money with Cramers picks and not making money.
Don't let naysayers get to you. Just ignore them. Don't let them "get your goat". You have a reasonable idea and a good methodology to evaluate it. So let's see if it works. Noone has to use real money. You've said that. Let's see what the system says! Gator
A ten second recap of his calls for the week is hardly the definition of accountability. Since his show is available to anyone with higher than basic cable, a honest player would have a accompanying website that details the performance of his stock picks. What I want to know is if there is a abnormal spike in certain market maker activity ahead of and just after his calls. My instinct is he is a shill for someone/s; perhaps returning a favor by driving churn in specific stocks. The way Cramer outlines the "story" on a stock is a classic cold calling sales technique. He is expert at the sales call. He is also one up on the game; instead of making thousands of individual calls to drive activity, he reaches a huge audience in a individual show. He is also a media whore. How many successful traders or hedge fund managers have you seen sticking their face in front of the cameras when ever possible?
Wow, you have a lot of issues. He does have an accompanying website, which he just aquired, that lists the details of his calls, its the one I mentioned in the first post, www.madmoneyaddict.com. You'll see on that website that they have a category called "cramer's worst calls this week" and "Cramer's worst calls overall." You can also look up any show date or any stock and see what he said when he mentioned it on the air and you can evaluate if he's successful or not in his calls. In regards to him being a media whore...so what? I think he honestly just wants to level the field for the average investor, if you watch his show enough you start to learn about the markets and sector analysis which is really important. Say what you want but he's teaching people lots of valuable information that they won't get from some boring hedge fund manager doing a boring segment on CNBC wake up call.
Cramer's stocks for today are: GILD, PWAV, QDEL, SBUX, ZUMZ. Your morning is going great if you traded QDEL at the open today . Most of the other picks are sluggish today. Only Realized $124 by lunch today. Attached is the spreadsheet by midday today.
Didn't Cramer say that GILD is the wrong play b/c everyone is looking at it for the Tamiflu deal? I don't think this was a Buy rec. He also put a Buy on FO (Fortune Foods) but you don't mention that.
FO was an interview segment stock I'm only taking the discussion segment stocks but that was a good pick you're right. I missed his talk about GILD but from the info I got off the madmoneyaddict site he put a buy recomendation for this.