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Gold User, Member, TeleChart
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| Monday, November 22, 2004 |
| Thursday, November 10, 2011 2:32:09 PM |
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I track some of Jim's picks in TeleChart. Recently, on his Mad Money CNBC show, Jim promoted TurboChef (OVEN) and it popped 8% the next day and was up about 50% over the next two weeks. Last week, he was bullish on Millennium Pharma (MLNM) and it popped for 12% the next day.
I don't have all of Jim's picks, but he's been very bullish on the oils even after the March peak when lots of other folks said the run was over. Jim correctly predicted last fall that the fundamental global supply problem (China, India, coupled with marginal new production), would eventually trump any short-term pull-back. For weeks now he's been promoting the oil drillers rather than the larger conglomerates.
Some of his best long-term picks has been Kmart(now SHLD) and Google (GOOG). But I think his forte is picking stocks to get out of, (a.k.a. "The Danger Zone.") Some of these include GM, X, REV, TZOO; all of which he called before their long slide. He's also called the emotional ups and downs of MSO pretty well.
On the flip-side, he's made some mistakes, which he fesses up to. He's been bullish for a long time on on LU, which has languished. He called NT a buy, days before they disclosed more accounting fraud, while PLMO and CAH have both gone up $5 since Jim said to bail out.
While Jim called AAPL's IPOD driven bull-run correctly, he was still bullish on the stock when the Wordens correctly called the top at $45 on March 22nd. Likewise, Jim was still bullish on GOOG at $296 (predicting $350 by the end of the quarter) when Peter Worden was correctly predicting a modest pullback on June 10th.
It should be noted for all the TeleChart users that Jim is an admitted fundamentalist and sometimes he says "buy" when the technicals indicate otherwise. But of interest, Ms. Cramer, (a.k.a. "The Former Trading Goddess"), before she left the trading desk to become a full-time mother, is a dedicated chartist.
Jim talks about their different styles from time to time and freely admits that they did very well at their hedge fund when she would screen first on the technicals and then he would make the final selection from the list she gave him. Another of Ms. Cramer's techniques, used to remove emotions from the decision-making process, was to force Jim to cover up the name of the stock and make the decision to exit a position based solely on its performance.
So while Jim isn't prefect (and he's not a chartist), his show is very good in explaining the importance of diversification, homework, and sector rotation. My advice is to set up Cramer Buy and Hold watch lists in TeleChart, but don't make your move until the signals are right. More importantly, buy & sell with conviction when Cramer and the Wordens are in agreement!
For a more complete run-down of his picks on Mad Money, here's his response to criticism in the New York Post, in which he gives a detailed account of his picks:
(Removed by Moderator)
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