Cramer bashers: got the balls to fade his pick of the wk DKS before tues earnings?

-3.23 from close and -5 from ah pop on his hype. i predict he will say buy more.
he didnt think this one through very well. we have $3 gas and it is the worst seasonal time for retailers and many retailers have missed and he tells people to buy ahead of earnings.
 
Quote from Epiphany:

Here's your chance

You VS Cramer

The stock is now trading up to $41 in AH, if you say he is crap, then fade the move now

Put your money where your mouth is
More...


Trading 34.90

Guess he flipped his coin the wrong way:D
 
Dick's Not Broken, Despite Stumble

By James J. Cramer
RealMoney.com Columnist
8/16/2005 9:03 AM EDT
Click here for more stories by James J. Cramer
So, let's go over what I did wrong. First, I believe that Dick's is the best store in a tough neighborhood -- the sporting goods neighborhood. It's the premium place to shop and a regional chain that's going national, which means that, after the disappointment, it can still be bought.

Where I went wrong was believing that management had upped its game when it bought Galyans. When Dick's bought Galyans, it took numbers up, because it believed that Galyans stores would do better than Dick's stores. But they didn't. Dick's made a mistake, and I believed in that mistake.


Of course, that makes it my fault, not Dick's management's. I should have been more skeptical about their assumptions, but I have been such a believer in the model and in the stores themselves -- which are the nicest places to shop in the sporting goods game -- that I figured the worst that could happen was that the company did the number and then guided down and you could buy more.

Looks like the worst just happened. Dick's beat the number but lowered the guidance, which I now believe it will be able to beat, but so what? People will put it -- and, no doubt, me -- in purgatory.

So be it.

The stocks I have picked on "Mad Money" as stocks of the week have, overall, done far better than the market, and I've been on a nice hot streak of late. This Dick's breaks the streak. My bad.
 
Quote from Epiphany:

Here's your chance

You VS Cramer

The stock is now trading up to $41 in AH, if you say he is crap, then fade the move now

Put your money where your mouth is
More...

what a joke!

dks was my biggest short position overnight. This would make the first time I went up against cramer. I read the responses here, and felt I had nothing to worry about, as many said he was 50/50. I shorted on yesterday's close, so i was surprised to see it up +1.6 to around $41 after hours. I was not dissuaded, though.

I can't wait to play against cramer again!
 
rev bashing his boss.

Rev Shark
Buying in Front of Earnings Reports
8/16/2005 9:31 AM EDT

One trading lesson I have learned the hard way over the years is that you don't buy a stock in front of earnings reports. The folks who are inclined to do this are either gamblers or driven by hubris. The only reason to buy a stock like Dick's Sporting Goods (DKS:NYSE) on the eve of earnings is because you get a thrill from gambling or because you believe that you have superior knowledge and/or insight into what they will say.
Maybe if you are managing a big hedge fund and have the ability to contact people that have inside knowledge about the company you will have an edge in playing earnings but it is still fraught with danger. Not only do you have to be correct about what the report will say but you also have to anticipate the market reaction.

Another good recent example of this danger was Intel (INTC:Nasdaq) which was also a suggested buy in front of earnings. Yes the report was OK but the stock was extended and the market reaction was negative. Correctly anticipating a good report was not enough.
 
cramer didnt like that remark.

James Cramer
Buying ahead of earnings
8/16/2005 9:49 AM EDT

Amazing, i don't get it right all of the time. But predicting earnings has been, and remains, a key money-making strategy for me. I have remained politely silent and enjoy the repartee on the site, but the "media star" comment was hurtful and unfair. I have worked my butt off to try to get quarters right, sometimes i get burnt as i did on Dicks. My response was immediately to say that i got it wrong and explain how it happened and to say "my bad" and then try to do better. To slight a good method on the basis of DKS is simply non-analytic. To suggest that what i did was to make a splash is simply a ridiculous ad hominem attack that has no place on our fine site.
none
 
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