Cramer, Cramer, Cramer...Bald Headed Dufus

I have a love/hate relationship with Jim Cramer.

I think "Confessions of a Street Addict" is a really great book. I keep it on my toilet, which is my way of appreciating great books. I pick it up and read it often, depending on my fiber intake of course.

But he does this everytime: everytime the market hits the end of a bullish cycle, he's goes out there and pumps his favorite stocks, even though He knows damn well that they have just enjoyed tremendous runs and they are due to come in. In fact, some of them look like they are tracing out major tops.

Let's look briefly at today's lightening round picks:



'Lightning Round
Cramer was bullish on Six Flags (SIX - Cramer's Take - Stockpickr - Rating), Ford (F - Cramer's Take - Stockpickr - Rating), Wells Fargo (WFC - Cramer's Take - Stockpickr - Rating), Goldman Sachs (GS - Cramer's Take - Stockpickr - Rating), Peabody Energy (BTU - Cramer's Take - Stockpickr - Rating), Chemed (CHE - Cramer's Take - Stockpickr - Rating), Charter Communications (CHTR - Cramer's Take - Stockpickr - Rating), J.C. Penney (JCP - Cramer's Take - Stockpickr - Rating), Kohl's (KSS - Cramer's Take - Stockpickr - Rating), Saks (SKS - Cramer's Take - Stockpickr - Rating), Dick's Sporting Goods (DKS - Cramer's Take - Stockpickr - Rating), Lowe's (LOW - Cramer's Take - Stockpickr - Rating), Sears (SHLD - Cramer's Take - Stockpickr - Rating), Caterpillar (CAT - Cramer's Take - Stockpickr - Rating), Joy Global (JOYG - Cramer's Take - Stockpickr - Rating) and Syneron Medical (ELOS - Cramer's Take - Stockpickr - Rating).'

Please notice a few things:

1. He's pushing a lot of retailers, and entertainment stocks, and banks...all sectors that are ROLLING OVER.

2. Then he pumps stocks that have had monster runs, like CAT, that no hedge fund guy in his friggin' right mind would touch at these levels.

3. He tends to pick his buddy's companies regardless of the technical action: SHLD, run by his buddy Eddie Lampert that has been getting creamed lately, plus dropped below the 50-day EMA and is leaning hard on major long-term support, and looks like it could very well keep going down at this point. Well, at least this one wasn't at a top, so maybe this one is more forgive-able. But to recommend another retailer in a slowing economy doesn't sound too brilliant to me, especially a mediocre retailer.

I'm surmising that when Cramer ran his fund, he was the "idea guy" that needed traders around him to suss out his ideas. Now he's just a loose lipped egomaniac loudmouth that thinks he's a genius when the market is good, and he buys himself into losing stocks when the market is bad; it's like he has no perspective at all on the ebb and flow of the market.

And this guy ran lots of money for years and he's a millionare now. So why the hell am I still driving a Saturn?