GSH1976

Has Jim Cramer Crossed the Line with Sirius XM?

Cramer should have been locked up years ago. I have no position in SIRI (and never have either long or short) so I have no bone to pick with Cramer regarding any of his SIRI recommendations. Having said that, Cramer does a complete disservice to individual investors. The entire show is nothing but a scam. His claims that phone calls are not screened is a complete lie and I know that for a fact. Even if I did not, isn't it odd that none of the callers are irate? Cramer told everybody to sell all financials and homebuilders on July 15th. Then two weeks later, after many had rallied OVER 100%, he recommended buying them again.

It is obvious Cramer is a mouthpiece for others. So the question is what does Cramer get out of it? In this case we have Cramer bashing a stock but my major problem with him is the exact opposite. Cramer loves to pump stocks with very high short interest because he knows they are easy to move. The sheep follow his recommendation, the stocks spike, and soon a violent short squeeze ensues. Soon afterwards the stocks are lower than when he made the recommendation.

I have followed Cramer since the late 90s. During the tech implosion he was telling people to buy all the way down. He became bearish AFTER the NASDAQ had dropped from 5,000 to 1,700 but of course he stated numerous times later that he was bearish on tech stocks at the top. Look at some of his recommendations last year. He was pumping the worst of the financials - CFC, TMA, DSL, etc.

Earlier this week his main topic was why you should buy homebuilder stocks. He went on to say that he called the top in housing stocks and has never recommended buying them since the bubble busted. That couldn't be further from the truth and a quick google search will return numerous articles completely refuting his claim. Not only is what he said 100% false but he was telling people to buy them when they were AT THEIR ALL TIME HIGHS and has called a bottom at least 8 times since early 2006. It is amazing how reality is the polar opposite of what he claims. At the beginning of 2007 his top sector pick was financials. His top pick was THE WORST PERFORMING SECTOR!

What amazes me is that number of people I hear say "I watch Jim Cramer every night." There are a lot of stupid people out there. There are numerous videos at youtube that expose him for his blatant lies. If nothing has happened to him yet I doubt anything ever will. The man is untouchable.