Flash: Even Today, Cramer on Citicorp

F. Bruce Abel (c) 2008

[As you can see I've discovered large and small type. I will use this device to make it clear which are my comments and which are not.]

Cramer is fighting the debacle over his Bear Stearns calls, using the same language that so many misunderstood:
This is the best soap opera on TV, to those in the know. What a guy.

With Erin Burnett during Stop Trading, at 2:45 pm.

[preliminary stocks]
The fraud that is ethanol.
[Erin]
U.S. Steel will be on Mad Money at Penn State

Now the Soap Opera:

Citigroup down 6% today @ 22.09;
"Which direction is Citigroup headed?"
I want to make these comments...
I will answer this the same way I handled Bear Stearns:

Your money is safe at Citigroup
You do not need to pull that money out.
The bank will keep your money preserved.
That said, I do not want own the bank
I do not want to own the shares.
I do not want to own that stock.
...People have continually misinterpreted me...

[later from Erin]

Few people have the intestinal fortitute...

[later] What about JP Morgan?
JP Morgan is a stock you want to own, particularly on a pull-back.
Again, the reason why I want to make comments about depositors...

I have hated the financial stocks forever...

I only recommend Goldman Sachs, Hudson City Bank and JP Morgan



Look at his eyes! He knows his career is on the line. Erin puts it in the right perspective.


By the way I believe Cramer is "wrong" with regards to natural gas, and I will be writing on this.