Mad Mail: Cramer Tips Help Pay for Bat Mitzvah
Dear Jim: I've e-mailed you several times and thanked you for all you do. This time I want to thank you for Friday's show, which will change my investing behaviors for good. During the month of September and through most of October, I nearly doubled my portfolio through options and riskier-than-normal trading. By Wednesday of last week, I had unbelievable gains. Instead of selling, I got greedy, held on and by the end of Friday, almost all my gains were wiped out. On the show you said that if you were to see gains that seemed ridiculous, to SELL, SELL, SELL. The whole show was a great eye-opener and that won't happen to me again. --Richard
Cramer says: “I don’t want you to hurt yourself … That will never happen to you again. You have learned your lesson.”
Dear Jim: Just wondering why you did not mention DryShips in your segment on dry shippers last week. I have been in DRYS for a short while and have enjoyed very rapid price increases - faster than the stocks you mentioned. --Ralph
Cramer says: “That’s why I didn’t pick it.” The stock had gone up so much in the time that Cramer was working on the segment that he had to pass on it, as tempting as it was to recommend.
Dear Jim: Love the show! My wife and I inherited 3,000 shares of Hershey this past April. The stock price has gone down from $56. We love the great dividend checks that we have been receiving every three months. However, I feel the stock price is heading even lower. We would ideally like to hold onto this stock for the long haul but don't want it turning into a Ford. Should we stay put or sell? --J.P.
Cramer says: Anytime HSY goes up, “I want you to blow out of it.” Management has lost its way, and Cramer thinks the company should have been sold “a long time ago.”
Dear Jim: My younger daughter's bat mitzvah is May 10, 2008. I decided to try to pay for it with some mad money. On Oct. 4, 2006, I started converting some shares of Google into Apple and bought $50 of Apple and $50 of SAIC weekly. As time passed, I switched stocks and increased my weekly contribution until it reached the current $200 a week. I am up 61%. Since you have helped to pay for the bat mitzvah, it would only be fair to invite you. I would not want to put you in an awkward position. However, the Sands at Lido Beach throws a great affair, so if you are interested let me know. --Stephan
Cramer says: “All I can say is mazel tov.”
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