Jim Cramer’s Monologue 8/23/11

[youtube:http://www.youtube.com/watch?v=qtUV0h2JsOA&feature=player_profilepage 616 500]

[youtube:http://www.youtube.com/watch?v=zSDgtXEKx6E 616 500]

I am getting dizzy. In all fairness, I don’t buy Blodget’s argument that something MUST be wrong because BAC is lashing out. It’s a damned if you do, damned if you don’t scenario, where bears point fingers NO MATTER WHAT. What exactly did Blodget want BAC to say?

I don’t get it.

Nasdaq closed up 100 or 4.3%.

Talking head shrunken.

[youtube:http://www.youtube.com/watch?v=IQUTltcIHV4 616 500]

Gold is now off more than 3% and silver 5%.

Dow +215, even though NYC is in a state of sheer panic, having undergone the traumatic experience of 1.0 tremors.

Early reports indicate the nuclear power plants, including Indian Point, have not been destroyed by the devastating 5.9 magnitude earthquake.

As always, DEVELOPING…

Airports are being shut down for inspection in Philadelphia, Newark and NYC.

The market sold off a quick 50, following a baby tremor felt in NYC. Police departments and many office buildings are being evacuating. Absurd.

Get to work.

On that news, the market is selling off.

How lame.

I felt the tremors here in New York.

The pentagon is being evacuated, as a precaution.

No. Ticker % Change Short as % of Float
1 AMSC 14.23 26.36
2 JKS 13.03 62.59
3 HEI 11.77 30.30
4 JASO 11.67 19.06
5 PANL 11.22 15.70
6 TPLM 10.78 40.00
7 YGE 10.77 18.75
8 WTSLA 10.53 18.47
9 LDK 10.38 58.07
10 VRA 9.70 40.90
11 ENER 9.52 26.90
12 LULU 9.24 16.90
13 LNN 8.79 21.80
14 BORN 8.64 21.12
15 CSIQ 8.60 16.60
16 PWER 8.41 43.80
17 ENOC 8.35 16.70
18 DGIT 8.33 17.00
19 ATPG 8.12 42.90
20 WGO 8.06 23.20
21 RBCN 8.05 53.50
22 DSW 7.96 27.00
23 FSLR 7.95 40.20
24 DDD 7.77 16.10
25 HNSN 7.72 19.30

No. Ticker % Change
1 YINN 10.29
2 TNA 9.37
3 SOXL 9.36
4 COWL 9.20
5 MATL 8.32
6 TAN 8.09
7 ERX 8.06
8 TQQQ 7.99
9 TYH 7.62
10 DZK 7.51
11 MWJ 6.94
12 ZSL 6.76
13 DUST 6.39
14 SAA 6.30
15 DZZ 6.23
16 UWM 6.15
17 BGU 6.05
18 ROM 6.03
19 XPP 5.95
20 UPRO 5.92
21 RUSL 5.39
22 QLD 5.29
23 DIG 5.28
24 FAS 5.26
25 DRN 5.22

No. Ticker % Change
1 PMC 27.54
2 LMLP 21.86
3 KIPS 18.94
4 INVE 17.95
5 III 15.79
6 GLCH 15.65
7 VG 15.65
8 ANTH 15.43
9 INUV 14.97
10 IVN 14.96
11 AMSC 14.04
12 PWRD 13.56
13 JKS 13.31
14 FOSL 12.64
15 IDSY 12.37
16 REFR 12.33
17 KID 12.12
18 PANL 12.03
19 HEI 12.02
20 BID 11.82
21 MELA 11.64
22 HEV 11.51
23 IBCP 11.48
24 MTSN 11.45
25 ASTI 11.38

About $77 billion in assets.

Fucking bubble.

Following this mornings hit piece on BAC, Banc of America issued a scathing statement on Blodget.

Mr. Blodgett is making “exaggerated and unwarranted claims” which is what the SEC stated publicly when he was permanently banned from the securities industry in 2003. The sovereign exposure is off by a factor of 10. The commercial real estate figures are off by a factor of four. The mortgage analysis was provided by a hedge fund that has acknowledged it will benefit if our stock price declines. The recommendations on goodwill accounting would be prohibited by generally acceptable accounting practices. Traditional bank valuation relies upon tangible book value per share, which excludes by definition 100 percent of goodwill and other intangibles. As of June 30, our tangible book value per share was $12.65.

Despite all of the fear mongering, both Italian and Spanish 10 yrs are under 5%.