Cramer cost me a lot of money. I bought last week when he said buy. Now he says sell and the stock is down over 6 dollars. Still not as bad as when he said to buy Leman Bros. and we know what happened there.
Cramer didnt tank this stock...although he didnt help it. He does not have that much power over stock movements. It had two -16% days and one +15% day before he lumped all the small cap bios together and recommended taking profits. ACAD was way ahead of itself as were many others. I took a huge gain in CLDX but failed to see the writing on the wall on ACAD. Now im out and looking for re-entry. We have the default BS as well as retracement to factor in.
Cramer is just trying to be entertaining. Even CNBC says do your own DD at the end of his show. Anybody that invests on his remarks has no one to blame but themselves. Same goes for these MB's. I only come to these boards for a laugh.
If anyone stopped and looked at Cramers trades you would see he makes so many picks and then comes back and tells you about the ones that did well. Now considering how well the market has done since 09 It would be hard to get any wrong but somehow he has managed it more than you would think. Then you have his staff pick threw all the phone in calls and always bring on the ones that always say "I just want to thank you for helping the small investors?" Where are all the calls from the un happy investors? Just do your own homework using the same amount of time as you would have watching him and you will be way ahead of the game. I have made a lot of money watching him! How? I would short whatever stock he was pumping that day and then cover the next day at the open. GL2ALL
Yes, Cramer said ACAD was a buy. It was on his 2000th show, which aired on CNBC as a special. He named ACAD and 7 other biotechs as the Cramer power 8. They were: CLDX, INSY, KERX, CLVS, NPSP, PBYI, ASTX and ACAD. INSY was mentioned in particular for their cannibas derivative drug for appetite stimulation.