When I got home from the Kravis event the other night I immediately went on my iPad for my twitter fix - Dr Internet cannot go more than a couple hours without a twitter update. This is what I see:
If Cramer likes $NFLX and #CMG then it is the top for certain!!!
Tweet from Mr. Jim Cramer himself. Before I get into this let me give you a little backstory. Cramer has been pumping NFLX (Netflix) and CMG (Chipotle) for a while now, and they both have been magnificent calls. NFLX and CMG were up like 400% and 200% in 2010. They are also probably the most overvalued bubble stocks out there, yet Cramer continues to pound the table despite lofty valuations.
Anyways, I follow Cramer's calls closely because they tend to have influence on short term movements. In December, after NFLX breached 200, Cramer downgraded it from buy to hold and told his followers to sell half their position. It quickly dropped to 180. Well now it's trading 30% higher to 240 and Cramer still says BUY BUY BUY. As a short seller, I have a huge problem with this. Jackass doesn't like it at 200 but loves it at 240 and thinks it's going to 300? So I call him out:
@jimcramer just a reminder you changed your $nflx rating from buy to hold in dec. U had a great call all along but u cant say buy now
@jimcramer sell half $nflx in dec but buy it 2 months later and $40 higher? U had some GREAT calls but stick with your downgrades re:nflx
And the next morning I wake up to this:
@EndicottSteel More stupidity, i said go back and buy it when it dropped.. Go read Real Money...
BOOM. JC just tweeted me! He must get thousands of tweets a day and he responds to about 20 of them. I assume he's being sarcastic in the first one, and the second one is classic - Cramer called me stupid! Must have really hit a nerve. I just successfully pissed off my least favorite person ever.
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