Mad Mail: Blame the Hedge Funds?

Jim: Would you ever consider joining Boone Pickens' campaign for oil independence? I know that you believe in the cause and I'm sure that a series of TV ads featuring your high-energy persona would force both parties to address this critical issue in a meaningful way. Thanks for all you do. --Ken

Cramer says: "I'm not allowed to do this stuff...but I believe in natural gas. And I believe that we can be energy independent It's cleaner and most importantly...we'd be free from the shackles of the Middle East."

Greetings Jim!: Please talk to us about hedge funds! I remember about 10-12 years ago, my broker at the time told me it was the hedge funds that were driving the market and making it so volatile. Now that these folks are so deep in debt, could that be causing all of the liquidation? --Elizabeth in Virginia

Cramer says: "You're absolutely right. The hedge funds are just out of control. It's not just because they borrowed a lot of's also because some of them are just real bad, and they're really hurting the market with their liquidations."


Jim: Are you still on high about Novo Nordisk? I am getting worried that this one is going south more than it's going north? Do you still think NVO is a buy before the September meeting? Thanks for all your help! --Trae

Cramer says: "I said I had gotten that wrong short term. I could not believe that they did not on their conference call address the new drug and give us a time frame. Until they address the new drug and give us a time frame -- this is the diabetes drug -- we are going to be in pergutory with this one."

Dear Jim, aka Honey-Baby-Sweetie-Man-Of-My-Dreams: I am in the house of pain in many of my "New Tech" stocks. Now that, "China has disappeared," should we abandon ship? In particular, McDermott and Parker Hannifin. --Cheryl in Washington

Cramer says: "I think Parker Hannifin is terrific, and I would not sell that here. But remember there's a Boeing strike. It lowered expectations, and it's deeply involved with Europe, which has gotten weaker. McDermott is coal. And at this point, if people think Obama's going to win, coal is done for. And that is really going to hurt McDermott."

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