El: Cramer revealed he had 300 shorts, but only after the CSFB report hit the wires. A few weeks before that, when CPQ was rising, he claimed to be long.
The only value in Cramer's opinon is that as a follower rather than a leader, he reflects sentiment that is already in the market. But does anybody really need Cramer to tell them that CPQ is oversold, that there might be more downside, but very soon there is going to be upside, and if you wait for the downside you might miss the first big gap up? If there are people in the world who actually rely on him for advice, what would they do this morning, about CPQ?
Cramer's statement is intended to cover his backside. He is going to buy CPQ even though he said a few days ago he was short and leaving techs alone. |
