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Varchild2008 (83.81)

Jim Cramer, You're Fired! (BAC)



January 21, 2011 – Comments (7) | RELATED TICKERS: BAC

Gee, I wonder what Jim Cramer will say on tonight's Mad Money?
Afterall he was extremely bullish on BAC near the beginning of this year saying not to worry so much about the Mortgage writedowns....

Now it appears that it could be all the way to 2012 before the Mortgage Writedowns stop bleeding the heck out BAC's earnings.  That coupled with the ongoing Foreclosure mess that is still in the Court System could limit any real returns until 2012.   Varchild2008 believes JIM 1 year too early with a BULLISH call on BAC.

DISCLAIMER:  I actually enjoy watching Jim Cramer and he has had some advice that has helped me in the past.  So, this is just meant as a harmless joke!

TOP 10 things Jim Cramer will do on tonight's Mad Money in Varchild's opinion.

10)   Not bother to mention Bank of America's earnings report.....

9)  Completely ignore the C.E.O's statements about future writedowns on the Mortgages, and talk up the C.E.O's statements about the "Core Business" improving outside of Mortgages.

8)  Claim that the Stock traded higher at least in the early part of the day so therefore that has to mean something...or something..

7)  Shrug shoulders...claim he made a minor mistake....and march on to talking up Natural Gas Vehicles as the next big investment boondoggle.

6)  Proclaim that somehow this earnings mess means that Jim Cramer's JUNE 2009  Bottom Call for the Housing Market has once again been proven correct.

5)  Proclaim it is the year of Natural least the kind Jim Cramer provides each day he misses a call.

4)  Explain poorly how massive writedowns are actually a good thing to right-size BAC's ship....and that therefore the messier the Earnings Reports get for Bank of America, the more share of stock you should buy on the dips.

3)  Tell everyone to stop whining already cause the stock only lost 2% on a day the Nasdaq slipped.

2)  Start rattling off Calls he made in 2010 that worked as an excuse for missing this one.


Drum Rolll.......  Brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrum  Crash!

1)  It's Sarah Palin's Fault!

7 Comments – Post Your Own

#1) On January 21, 2011 at 4:58 PM, Varchild2008 (83.81) wrote:

Bank of America has claimed that they were and were going to be "profitable" since March of 2009.  Triggering along with Citigroup the Stock Market rally that we have had off the bottom.

So, I don't see what all the noise is about with the C.E.O's statements.... they haven't proven out yet and why should investors believe they should prove themselves out now?

SHOW ........VARCHILD........THE........MONEY!!!!!

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#2) On January 21, 2011 at 5:07 PM, kdakota630 (29.12) wrote:

I'm so curious to know if anyone knows how Cramer's ratings have been since the Jon Stewart appearance.

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#3) On January 21, 2011 at 6:41 PM, SlowAndSteady123 (< 20) wrote:

If you are really interested in Bank of America as an investment, just be patient. Buying anything in the short term is highly unpredictible, and investing like that isn't much different than gambling at a casino. But investing for the long term is buying a stake in a company, and if you are willing to invest with that mindset in B of A, I think you'll be pleased with how the bank performs against the S&P 500 over the next few years. The time it is taking them to sort themselves out is only a testament to the magnitude of the financial crisis we've just come through. But in the past, thinking in terms of years rather than weeks (or even days) wasn't so uncommon. It's only the 24/7 news cycle that makes us so hyper-sensitive to the short-term fluctuations in individual companies and in the market as a whole.

(I'd also suggest that you stop watching Cramer. He's mostly unhelpful, because his manic personality and manic show cause people to want to buy and sell way too much, regardless of what the words say that are actually coming out of his mouth. But that's just a personal opinion and is worth exactly what I am charging for it.)

I don't want to minimize B of A's problems, but I do want to suggest that B of A is going to be very successful over the next decade (barring something unforeseen happening to the economy). If you think B of A is going to rebound, appreciate in value, start helping the economy we live in by being a healthy megabank, and start raising its dividend, then there's really only one attitude toward the share price pullback that has happened in the past few days related to B of A's less-than-stellar quarterly report: Use it as a buying opportunity. This stock will be at $20 by the end of the year, and if you can pick up some shares at less than $15, you'll see one heck of a return.

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#4) On January 21, 2011 at 8:28 PM, Varchild2008 (83.81) wrote:

By end of year (BAC) is $10.00.

Let's see who wisn:-)

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#5) On January 21, 2011 at 11:10 PM, summitclark (52.65) wrote:

Why all the Jim Cramer bashing?


He makes his calls, they end up being right or wrong just like anyone else.  Cramer tries to educate, if you blindly buy and sell stocks based on his lightining round or anything else without doing your own homework.... you deserve to loose your money.


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#6) On January 22, 2011 at 12:24 AM, Valyooo (38.19) wrote:

I think Cramer is awesome.  The reason people say he is terrible is because he makes a lot of bad calls but the only reason that happens is because he does stuff like the lightning round where he has to make 500 calls in the blink of an eye.

If you listen to what he says about his favorite picks and the overall market, he is very good...just ignore the other crap.  He is good if you know how to filter him.

My price target for 2011 for BAC is $20, but I am going to shave some of my holdings, because I am tired of these recurring "1 time write offs"

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#7) On January 22, 2011 at 1:06 AM, NOTvuffett (< 20) wrote:

Like other pundits, you should take Cramer's words with a grain of salt.  He is a smart guy, and he tells people to do their own DD.  Just another view.  If, as summitclark said, if you are trying to buy and sell just from the information presented in Cramer's show you deserve to lose your money.  Because of the limitations of the format, he can tell you what he thinks is a smoking hot deal (and he may be right or wrong) but he can't tell you when you should bail on it. 

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