Jim Cramer Is A Seller of Google (GOOG)--'Contrary Indicator'?
Last night on Jim Cramer's Mad Money, a caller asked Jim Cramer's opinion on Google (Nasdaq: GOOG). Jim said it's a sell and he wouldn't buy until it is below $400. Today, Google is up more than 20 points or 4.4%.
Lately, Jim Cramer has been a contrary indicator with some of his picks. His most recent picks that imploded on him were Bear Stearns (NYSE: BSC), Annaly Mortgage (NYSE: NLY) Merck (NYSE: MRK) and Schering-Plough (NYSE: SGP).
Cramer does give over 200 picks a week on tv and is bound to be wrong on some. However, the reason some investors are now using him as a 'contrary indicator' on his big stock ideas is because of the aforementioned recent implosions. [TM]
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