Hey, it looks like we've avoided .14 ...
SIRIUS XM SATELLITE RADIO FORUM
Hey, it looks like we've avoided .14 ...
Prediction: SIRI will be standing tall when autumn leaves begin to fall....
bid/ask spread is widening on some trades. 1521-1549
Something's breaking - I just saw a 5 cent jump in just a few minutes!
I didn't watch the video yet but it's apparently several years old where Cramer talks about illegal activity while he was a hedge fund manager. I always thought all those people who bitched about the stock market being fixed were paranoid, now I'm one of them!
http://www.huffingtonpost.com/2009/0..._n_173824.html
In light of the current economic crisis, and with the hullabaloo ignited recently by Jon Stewart over the accuracy of CNBC's reporting, we thought it might be useful to revisit this shocking 2006 interview Jim Cramer gave to TheStreet.com's Aaron Task.
In it, the host of Mad Money says he regularly manipulated the market when he ran his hedge fund. He calls it "a fun game, and it's a lucrative game." He suggests all hedge fund managers do the same. "No one else in the world would ever admit that, but I could care. I am not going to say it on TV," he quips in the video.
He also calls Wall Street Journal reporters "bozos" and says behaving illegally is okay because the SEC doesn't understand it anyway.
Here are some gems:
-On manipulating the market: "A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures,"
-On falsely creating the impression a stock is down (what he calls "fomenting"): "You can't foment. That's a violation... But you do it anyway because the SEC doesn't understand it." He adds, "When you have six days and your company may be in doubt because you are down, I think it is really important to foment."
-On the truth: "What's important when you are in that hedge fund mode is to not be doing anything that is remotely truthful, because the truth is so against your view - it is important to create a new truth to develop a fiction," Cramer advises. "You can't take any chances."
Special thanks to our tipster Henry Chukuka! Keep those tips coming team!
For more on Jim Cramer and shorting stocks, click this.
Originally Posted by FoolNHisMoney
I think you mean a .005 jump
nice upswing..c'mon .16 close today...we deserve it!!!
volume has died down. 66% of todays volume occured in 1st hour and half of that was first 5 minutes after open.
Almost 2 million shares stacked up at $.16... Strong push to EOD?
Would be nice!
True, I meant 0.5 cent jump. Sad that we get excited over a half-penny jump!
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