This letter ran yesterday, but here is Cramer’s updated response.
Jim: Mr. & Mrs. Pickens have just sold up to a million shares of Clean Energy. What kind of traitor-ish activity is that? They ask us to join them and we did and then they SELL!! --David
Cramer says: Mrs. Pickens called Cramer to say that the stock sold was hers alone and not Boone’s. She plans to use the money to support an animal-rights initiative on the California ballot in November.
Jim: Last night on your show, you recommended that your viewers take some stock "off the table" while stocks rally. I have been buying some stock into the previous downturn, and to sell partial positions now would subject each position to the wash sale rule. Is that something I should pay attention to? By the way, I really think Secretary Paulson must TiVo your show for sound ideas on how to solve this crises, because the ideas they are implementing now are a complete break from their previous and totally failed hands-off approach to the economy. --Guthrie