Oh my god guys it's a proven fact these stocks on Cramer they jump in the markets. any advance warning about his thinking on any particular day for THAT nights show that a leak they are going to want to plug ant CNBC pretty damn quick. let's see if Jimbo covers this on his show! This has INVESTIGATION written all over it and if not, I know who to call to make it one.... I'm only mad because I love this stock and would have like the opportunity to profile it myself in a rational, sane way as I often do on ET... which Cramer's minions follow very closely/.
except that lately, there have been lots of stocks which have gone down almost straight down and had one day runs and are totally unaffiliated with cramer's show. it's not uncommon. i don't doubt there could be a leak - and in fact, there's some times where i've seen a stock trade higher pre-cramer, but after hours on no news, and then he mentions it. but picking one out isn't proof of anything. unless you've got something else.
I think the SEC should investigate Cramer whether they file charges or not. Lets take a look at exactly what happened. Throughout the entire day there was pretty good volume. The volume and the price especially started increasing at approximately 12:50PM. At 12:22PM, there was a press release: http://biz.yahoo.com/prnews/070316/nyf092.html?.v=65 Sometimes these conferences can have this effect. Usually there is new information that the CEO might choose to disclose. This has happened in the past many times with small cap stocks where we see a sudden jump in volume and price right before he announces it on the show.
http://www.sec.gov/litigation/complaints/comp17784.htm I also remember reading a few years ago about the bust of a group of traders who had gotten an associate hired in the delivery area at BusinessWeek, who fed them info about some of the columns.
>>> Michael you will have to believe me when I say I follow this stock, I have seen them drop press releases many times before never with such response. This one you point to- BOTHELL, Wash., March 16 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK - News) announced today that it will present at the Invest Northwest Investor and CEO Forum on Tuesday, March 20, 2007 at 4:35 p.m. Pacific Time at the Bell Harbor International Conference Center in Seattle.>> Let's track how many stocks get pops from that important conference! I can't remember the last time I didn't make money off Invest Northwest! This played no roll in the pop. Also, please, the additional move as soon as AH trading started> still do to this presentation announcement? Let's be serious.
Remember his background, purely a hedgie, going short in size. I would totally agree with you that the regulators must investigate this potential abuse. Good luck in trying to convice them to do anything.
Crmaer is small potatoes. "Currently, it remains legal and technically ethical for members of Congress to trade stocks based on nonpublic information related to pending legislation or appropriations. A study, Abnormal Returns from the Common Stock Investments of the U.S. Senate, by Alan J. Ziobrowski and others found that between 1993 and 1998, Senators outperformed the market by 12% per year on average, whereas corporate insiders beat the market by only 6% annually. Based on his analysis, Ziobrowski has concluded that, âthere is cheating going on, at a 99% level of confidence.â"
They should investigate Cramer not for this but for being a two faced self promoting shill. After every tank he tells you he's there to keep your money safe, when 5 minutes before he is pumping all sorts of garbage complete with sound effects and recordings of his tortured relatives. Geeze, he touts a stock, and a minute later tells you not to buy it tonight. What about all the morons that just bought it on your call you jackass?
He's just one of those TV-preachers that the US is famous for. Promising healing, invoking hypes and trying hard to become a trusted, household name. As always happens with these charlatans he wil be unveiled, demasked and finally arrested. Why do US citizens always trust these obvious crooks? Ursa..