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Friday, June 30, 2006

Update - MSPD

MSPD had the most pre-market action I have seen in a while. People got way to excited for a stock from a repeat show, where the focus was on how to read news, and not so much the stock itself. I think the big up day yesterday after people interpreted the federal reserve meeting as being positive when really it was more deceptive then anything helped the positive feelings for MSPD. MSPD hit a high of $2.95 right before the opening bell after opening in the pre-market at $2.70. The stock then opened at $2.85 and fell early, leveled off around $2.60 and went even lower at the end of the day, presumably as people started selling because their dreams of this stock skyrocketing were a mistake. The stock closed in the red at $2.41 down .06-cents. This really has to be one of the funnier Cramer picks...if you can even call it a pick. I'm sure Cramer will take no credit for this blunder. How many other times when he shows a repeat that he puts the "Recorded On" note in the bottom of the screen?? He doesn't do that because he doesn't want people to change the channel I would bet. So when he does show it, to me it means...For the love of god don't buy these picks, that's not what I'm trying to show you here! Unless the Yahoo message board was full of short sellers in long clothes there were way too many positive people posting last night. Too funny, but great news for the shorts. It means people aren't afraid to keep buying Cramer picks!

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