Quote from mcelitetrader:
Just brutal....
(NEM) Newmont mining is weak all day on weak gold......slowly some buying pressure comes back as the ceo of NEM is on CNBC for an interview. He makes some comments about having a better 2006 after mucking up 2005 and the first quarter of 2006.....
(with gold running a 3 year marathon on a 45 degree slope and to show a drop in profits is inexcusable and warrants replacement of the entire board.....)
Anyway, so this uptalk of the stock from the CEO starts the stock rolling along...nice buying pressure coming in.....then comes Cramer....CNBC has him on and he makes comments like "no longer a sector leader" and calls nem a weak stock.....
I am short nem at 52.97...it was a great price (was)....i was down 21 cents on my short when Cramer steps in with his NEM rant....this drives the stock into the floor....wow.....thing just dies on the table and starts printing in the 60's.....
How can someone who constantly says the market is transparent and fair release comments like this knowing the impact of his words. No offence and yet at the same time all offence...this is market manipulation straight out....
CNBC should be ashamed of itself for having the CEO of NEM followed by comments from Cramer with less than one hour left in the trading day... Being passed a subpoena may smarten this shark up and make him and his ilk realize that - as much as i hate to admit - their words have meaning...their offhand coments are what kill the markets and remove fairness.
I hope these subpoenas make the talking heads like Cramer wake up and take the markets and their comments a little more seriously. On this occasion Cramers ignorance pulled my short around and gave me a decent day....this is the exact point...it is not fair or equitable.....
Smarten up Cramer....Smarten up CNBC....
P.S. CNBC, you are a business news station...reporting on the anna nicole smith supreme court hogwash and showing high speed car accidents in the middle of the trading day shows your laziness and ignorance to what is important during the trading day. Get it together.
whew...much better