Mad Mail: More on the Uptick Rule
Dear Cramer: B-B-B-Boo-yah. Watched you on Squawk this morning. Enjoyed the show. I didn't hear you ask any of the Senators on the show about the uptick rule. Why oh why, when you had the opportunity to talk to three senators who, on this very day, were going to be talking to the head of the SEC, didn't you mention this??? If I missed it, sorry, but I was cheering you on to do it. Oh, and I'm very jealous of you getting to sit so close to the awesome and spectacular Becky Quick all morning. --Lance
Cramer says: I don’t like the speed with which shorts can drive down stocks, which is why I’ve been calling on the uptick rule. On another note, the SEC should ask for the recordings from the options desks of firms that are rumored to be engaged in improper shorting. It wouldn’t be hard to procure the tapes and it would put an end to the speculation.
Dear Jim:eBay’s stock, with $0.25 EPS and P/E ratio of 125, is steadily gaining in value. At the same time, Valero Energy languishes while sporting an EPS over $8.50 and P/E of less than 6. How can this be rational... is the market just stupid or is it just me? Whiskey-Tango-Foxtrot-over. --Dave, CWO4 US Navy (retired)
Cramer says: This is a “classically brilliant” question. The answer is that these stocks are valued out into the future. So VLO’s margins are actually going down as it profits less off each barrel of oil it refines. Meanwhile, eBay is starting to accelerate as evidenced by this week’s Merrill Lynch upgrade. “We only care about the future.”
Dear Cramer: Thanks for bringing Sen. Clinton on your show multiple times. I, myself, am a republican and I plan to vote for McCain, but I like to hear the candidates talk about specific issues on your show – issues that I care about that will affect the markets… You don’t get that on Fox or on MSNBC. I like the way you think and I like the questions you ask… I think the country could do a lot worse than her for a president (whattaya want?) GET MCCAIN AND OBAMA ON MAD MONEY, PLEASE!!! I know you invited them, but I think you should DEMAND THEM. Haha. Great show. Thanks for everything. --Chris
Cramer says: All the candidates have open invitations to appear on the show.
Cramer: You are a socialist and it's disgusting.
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