“Cramer Effect” Can’t Offset Market’s Bearish Sentiment

The “Cramer effect” wasn’t able to offset the bearish sentiment in the markets today. All of Jim Cramer’s bullish picks from yesterday dropped today as the Dow Jones industrial average fell 107 points. 

Adobe Systems (ADBE: 34.67 -3.02%), Southwestern Energy (SWN: 39.60 -2.89%) and Ultra Petroleum (UPL: 44.24 -3.26%) all dropped by over 2% today despite bullish comments yesterday by Jim Cramer on his Mad Money show. 

However, Mr. Cramer’s bearish picks performed quite well today. Topping the list would be THQ’s (THQI: 6.01 -1.31%) more than 5% decline said he wouldn’t touch the stock or the gaming industry. 

Exxon Mobil (XOM: 67.04 -0.52%) and Merck (MRCK: 0.00 N/A) also dropped after Cramer expressed bearish sentiment about both stocks. However, Johnson Controls (JCI: 31.82 -0.59%) did manage to eke out a weak gain after Cramer endorsed the stock as “the best of a really bad neighborhood”.