More Cramer Crappola

My, my, my... How is it that the fickle finger of fate occasional wanders across the remote at the exact time Jim Cramer's MadMoney show is on? And once there, it's like a good car accident, it's hard to pass by without taking a look, he is entertaining. And you are lucky I don't make a habbit of watching his show, otherwise you'd see a post like this every night.

So tonight he was doing the "Oh, I let you down" bit about John Thain, CEO of MER who finally made it up on the Wall of Shame. Cramer is just such an agent provocateur. Although his harsh confinement of Thain to the W.O.S. was buffeted a bit by Cramer's admission that he'd like to own the stock if it just came back a little.

Kaa..What in-da-heck is he talking about? The CEO is on the WALL OF SHAME for, uh... lets say misleading, no lets use Cramer's even softer version, "over promising and under delivering" choke-lol-choke-lol (spits coke all over the TV trying to retain one's composure). And we want to own the stock if it "just comes back a little bit"? lol-choke-lol-choke (coke goes up one's nose trying to retain one's composure).

OK, lets review.... I am watching Jim Cramer. We are in the midst of a Bear Market of which Financials are the unquestioned epicenter of the disaster. The major brokers and banks have a complete lack of transparency and even as Cramer puts it, this guy had told us how many times that they didn't need to raise more capital, that things were okay, implying that he more or less... well over promised and under delivered choke-lol..well you get the picture. Financials pulled off a 9.5 belly-flop Monday because of "unusual options activity" in MER before the end of the month see this video. MER announces that they have sold the CDO's for $.22 on the dollar which raises questions as to whether they were accurately valued last earnings and throws a dilutive offering out and the stock rallies.

And we want to own this stock if it just comes back a touch? Sounds like a winner to me! (read with slight tough of sarcasm)


Guys and Gals, please, please, stay away from MER and stocks like it for a long, long time. Unless you are a trader and a nimble one at that, there's seemingly no end to the assurances coming from this batch of clowns and it's hard not to think that Cramers not doing the old, "let me throw John Thain on the Wall of Shame" to glean a moment of credibility and soften you up before he sinks in the tag-line -"buy the stock on a pullback" and let me tell you, the next pullback in MER could pull it back to new 52 week lows if sentiment changes on Wall Street regarding Financials, it will change. WE ARE IN A BEAR MARKET, THIS IS A BEAR MARKET RALLY. AFTER THIS WE GO DOWN. Questions?

Now, when is that "I Survived A Japanese Game Show" on? Did I miss it tonight?