Thursday, August 24, 2006

The Evolution Of Cramer

For those of you who follow Jim Cramer (I call it "dodging bullets"), Sirius as been one of his most frequent mentions. Last night on MadMoney, Aug 23, Cramer shifted his position to "buy".

This is significant because he had been at "sell, sell, sell, sell" for many months, then eased into "don't buy, don't buy, don't buy", and most recently has said "merge with XMSR, merge, merge, merge". So for all those traders that follow him (his daily shows are even summarized on Bloomberg news), this is a sea change.

Sirius Satellite Radio (SIRI - commentary - Cramer's Take): "Listen to me, there's, like, another two points, and then Mel Karmazin is done. I think SIRI at four bucks is a buy. I don't want you out of that one." Link: HERE