Cramer Last Night

(c) 2009 F. Bruce Abel

Last night Cramer did a brilliant piece on why Family Dollar Stores (FDO) looked good to him until he checked the charts, found them showing coming weakness, and delved deeper into the company. He pointed out that KKR, those flim-flam smart punks, were controlling the company and were about to float a secondary.

"They always sell at the top, so avoid this company."

I know it was KKR who took over Dayton Power & Light and raided its pension plan, resulting in a class action lawsuit. Also, remember Wolfe's "Bonfire of the Vanities?"

Keep in mind (see my earlier blog) that Cramer's sell recommendations produce demonstrable profits whereas his "buys" do not so much.

I'll post the transcript when it is available. Now I'm "off" (virtually speaking) to check out the puts on FDO before the market opens.