not joking. as an experiment, i sold 1 (yes one) 150 call before earnings (early in morning yesterday) and at open immediately covered it for a nice gain of 60+% ... i sold it when the stock was at 133 for 3.00. at 139, it was 1.75. i expected with the 139 open to at least be neutral or slightly in red ... i'll be selling more otm calls after runups on high IV earnings plays going forward.
http://publish.vx.roo.com/thestreet...IN&bst=FF&biec=false&format=flash&bitrate=300 Wall street confidential. Cramers take,,,behind the scenes. Hedge fund strategies. "who cares about the fundamentals" "its just fiction, and fiction and fiction" "hit the brokers and sell it down, and then leak it to the press, and then get it in CNBC" "get the pisani's of the world, ,,,call the journal, get the dumb research reporter,, "call pisani and create an image that there is a large put buyer" I thought the video was interesting. Market manipulation mechanics explained. How many times have you watched CNBC when your hear pisani saying,,there is a large buyer for XXX stock, blah blah blah. Put maria b on TV with a fed chairman in front of the SP pit, and release some news about what bernanke said to her at a party about the feds real hawkish stance, and then watch ym drop 50 pts in 8min,,,,"wow, it certainly has gotten loud behind us,,,there must be some action going on in the pits" Is the market random?, or is it manipulated by some of the most clever people out there.
Has RIMM finally become just a traders stock? Is there an army of blood shot eyed guys out there looking at monitors playing it like its the next playstation game? Great conference call, upped guidance, price went through the roof afterhours and now its down.
Does this surprise anyone? Only the sheep are blinded. They can even manipulate large cap stocks, contrary to claims denying it (i.e. "this market is too big to be manipulated"). It does amaze me that he'd be stupid enough to admit this on a television show.
I've always had mixed feelings about Cramer.. watching this and some of his other online stuff, I get the sense here is a guy who I'd listen to. Then comes his little TV show, and he turns into another personality altogether. It seems he packages different attitudes to his different audiences with different time frames -- kind of fascinating. two different personalities: buy side, sell side.