Cramer Alerts

It's worth noting that Cramer is taking alot of heat for comments he made regarding UNH.

Last week he wrote: "It's one thing to remain patient when the market isn't giving a company like Foster Wheeler the respect it's due, but I'm not in the business of losing money. I would not be holding onto UNH right now if I were at my hedge fund and didn't have any trading restrictions."

Then today he seemed to shift blame to others, exclaiming:

"...we sold it because the options were backdated...we sold it because we didn't want to own anything that was too defensive because the economy was exploding. Oops, maybe UnitedHealth is the perfect stock for a soft or a hard landing. That's no reason to sell it...we sold it is that Goldman Sachs said it might miss its numbers and was very cautious at $55, at $44 and then again at $41. Ahh, I don't know, they just told you that the numbers aren't a problem...we sold it because the three big momentum players, Marsico, Janus and Fidelity were all blowing out of it. But my sources say they are all done...we sold it: We couldn't take the headlines day after day about it in The Wall Street Journal!"

One of Thestreet.com's writers and hedge fund manager, James "Rev Shark" De Porre said the following:

Why Did Many RealMoney Subscribers Give Up on UNH?

6/2/2006 2:26 PM EDT

Here's why -- Jim Cramer on 5/26/2006: "It's one thing to remain patient when the market isn't giving a company like Foster Wheeler the respect it's due, but I'm not in the business of losing money. I would not be holding onto UNH right now if I were at my hedge fund and didn't have any trading restrictions." I certainly agree with that logic but I fail to understand the point in your most current post. Are you now saying that sale was a mistake?

Some of Rev Shark's readers had some choice words for Cramer:

hugo99 said...
06/02/2006 2:30 PM
Cramer

What is happening on Cramer's blog isn't funny,it's sad. Some major publication needs to expose him.

Takeover said...
06/02/2006 2:32 PM
Thank you

Rev - Thank you....I'm one of the AAP's who dumped on 5/26 (fearing a further 5 point drop simply due to his influence) and to read his latest blog...highly irritating to say the least.

Yachtsman said...
06/02/2006 2:33 PM
Sold all my TSCM

This Cramer UNH fiasco is only going to get worse. This flip-flop, sell it all if I could, 4 rated in AA+, victory lap b.s. is going to come to light.

will said...
06/02/2006 2:36 PM
jcst

thanks for pointing out Cramer's historical call on UNH. He seems, intensionally or not, to forget what his calls were, and just keep calling others names.

Cramer's readers are a bit more aggressive:

Horse said...
06/02/2006 1:09 PM
Why we sold it?

Maybe WE didn't sell it !! You may have wanted to, but I'm sure glad I didn't listen to you on that one.

Hank said...
06/02/2006 1:11 PM
Why did I sell UNH??

Because YOU, Jim Cramer told me!! Don't go around blaming others now. Live up to your wrds man! You said to sell 10 days ago. And I did.

havelly said...
06/02/2006 1:13 PM
decision to sell UNH

Maybe we sold UNH because you said nothing good was going to happen to UNH until Dr. McGuire was forced out. Or maybe we sold it because you said UNH was going down further. The decisions about if to buy and when to sell are my own personal responsibility. I chose to rely on your experience and knowledge. I made a mistake buying on the way down. I made a mistake not getting out earlier. And I made a mistake selling near the bottom. What's important for the future is how I use those very, very expensive and painful lessons. I definitely did not sell for any of the reasons in your article.

menloconsultant said...
06/02/2006 1:14 PM
Come on!!!!!!!!!!!!!!!!

Jim, In Action Alerts, you constantly told us that you would be selling all your holdings if you could. You also urge readers to act on your alerts even if YOU cannot because of your restrictions. Jim, you are out of line acting smug about the UNH turnaround when your Action alert subscribers lost a bundle acting on your call last week.

adkurt0 said...
06/02/2006 1:16 PM
Maybe we sold it....

....because for your AA- you said that if I were at my old hedge fund I wouldn't own it. Or maybe some people sold it because of the previous statement coupled with the "Im not backing away from it" statements you made on MAD MONEY. Two distinctly different positions from the same guy. Very wishy-washy and confusing if you ask me. So now where do really stand on this 4 rated stock? In the middle I bet. That way you are right regardless huh? Thanks for nothing.!!!!!!!!!!!!!!!!!!!!!!

chechelo said...
06/02/2006 1:30 PM
How about a mea culpa?

Instead of writing that b.s. how about apologizing to your AA Plus subscribers about your telling everyone to sell at a low? Now as the stock ramps you'll take credit for holding on but it was ONLY BECUASE OF YOUR TRADING RESTRICTIONS. I HATE when you take BOTH SIDES OF THE TRADE and then say, "'look, I was right"!

The comments go on for pages.

Finally, Cramer responds to everyone and issues this apology:

"Many apologies to the readers and Action Alerts PLUS subscribers who are confused by my positive UnitedHealth (UNH:NYSE) column earlier today. For once, I actually benefited from my trading restrictions; I wasn't able to sell the stock even as I told people to do so. I did tell them to sell it higher and sell it lower. But today, I felt it was important to point out that UnitedHealth was moving up again and to discuss the possible reasons for that. I am an easy target, but I apologize. I should have been more sensitive to readers and subscribers. That said, I am sure the stock will come down again. I am as beaten up by it as the next guy, and I am not negating my earlier wish to sell; at the time, with what we knew, I believed selling was the correct move, and would have done so myself if I could. But nobody has a crystal ball in this market. Again, I apologize."

NOTE: Rev Shark and Cramer have a history of "hair pulling."