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Cramer: How Analysts Are Killing This Market

The Dow was down as many as 200 points before closing down 59, all thanks to Wall Street analysts, Cramer said during Monday’s Mad Money.

These analysts only had Monday and Tuesday to get their downgrades in, so they’re piling them on. Why now? Because its anathema to Wall Street etiquette to downgrade during the last week of the year. Doing so hurts hedge funds’ year-end performance.

J.P. Morgan today downgraded Nordic American Tanker , General Maritime , Eaton and the entire semiconductor equipment sector. UBS downgraded all the gold stocks. Deutsche Bank went after U.S. Steel and Darden. Raymond James took an ax to all of the natural gas exploration and production plays – Southwestern , EOG Resources , Apacheand W&T Offshore .

Expect even more tomorrow.

The worst of it, though, is that most of these downgrades don’t even make any sense. Downgrading natural gas in the middle of a U.S. cold spell? After the entire sector’s already dropped so much? What about UBS’s call on gold? The price per ounce is down to $300 and the U.S. dollar’s getting weaker by the day. And look at U.S. Steel. That stock’s plummeted to $34 from $196 – and now you downgrade it? Then Darden gets shunned right after reporting a good quarter?

Cramer chalked it up to analysts being too afraid now to recommend anything after a string of such bad calls, and as a result they’re downgrading stocks months too late.

But there is opportunity here: Nordic American Tanker, Cramer’s favorite shipping stock, dropped 6.8% Monday. That’s a great entry point for investors.

Questions for Cramer? madmoney@cnbc.com

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