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CNBC Jim Cramer Perpetuates Myths of Calling the Top, Bottom and just about Everything in between

Stock-Markets / Mainstream Media Jun 03, 2009 - 02:45 PM GMT

By: Submissions

Stock-Markets Best Financial Markets Analysis ArticleDon Harrold writes: This story took turn for the odd last night.

First, I did a video last week called, "Jim Cramer: I Told You to Sell!" In that video I showed Jim Cramer claiming that he told his viewers to get out of the market at "Dow 11,000." Then, I showed Jim calling "the bottom" and being insanely bullish at "Dow 11,000". I challenged people to show me Jim on Mad Money telling folks to get out, short the market, it was "too dangerous," and, with equal bearishness and no caveats (the last point is the most important). I offered $1100 to the first person to provide the video. (see original email and video for details).

No one has been able to win that $1100.

Then, Jim started the myth that he got investors back in at "Dow 6500".

I did another video. I showed Jim at "Dow 6500" with comments that are in diametric opposition to the idea that he got anyone back in at "Dow 6500". Jim was so bearish at "Dow 6500" that it's very weird to hear him now claim he called "the bottom." I offered $2200 to the first person to provide the video of Jim on Mad Money at "Dow 6500" calling anything like a "bottom" or that it was time to buy, the worst was behind us, or, that the "downside was minimal" (see original email and video for details).

No one has been able to win that $2200.

Last night, Jim spent the entire first segment of his show with a defense of his recent calls. He took credit for calling 11,000 as a great time to sell, he took credit for calling 6500 as a great time to buy, and, he added a few more "calls" he deserves credit for.

So, tonight I offer you the third video in what is now a multi-video offering. Tonight's video addresses Jim's recent advice in way that may surprise you.

I also now offer a total of $13,000 in money to be split between the charity of Jim's choice, and, Cliff Mason (Jim's nephew and "writer" of his show). (see video for details).

For whatever reason, Jim now wants to perpetuate the myth that he called a top, a bottom, and, just about everything in between.

My video tonight will give him all the credit he deserves.

Don Harrold

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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