She says that housing is not improving. I don't know what to do with people who do not see the improvement. I can't throttle them, and I can't send them nasty emails. She talks about all regionals as being bad and now all nationals joining them. Does she really think that JPMorgan's (JPM - commentary - Trade Now) situation has gotten more precarious? Can she not acknowledge that PNC (PNC - commentary - Trade Now) has vastly improved? Could she do some work on the regionals I talk about in Getting Back to Even (I will be autographing books tomorrow night at Barnes & Noble at Union Square in Manhattan) that stand to benefit if she is as right as she claims to be? She talks about how the stocks have gotten divorced from the fundamentals and says that's why there is a big increase in price. Maybe the fundamentals, though, just maybe, are improving.

As an aside, I think Whitney had many clients who were short going into this interview. The inability to take down the stocks, as hard as she tried, I believe backfired. Was she irresponsible? She runs a short-selling oriented advisory firm. She did what she had to do. But it was close to a rant where she was simply angry at the market for going higher. She has many adherents here. I can't change that. As I pull a few more of today's arrow's out of my back, I say, once again, that it was shameless.

As always, she will not appear where she can be called out on this. What a delight that must be, to have that luxury. She also can say, "Look, in the future, unemployment is going to be very high, so things will go bad," knowing that no one will ever question her about what happens if unemployment has peaked.

Put simply, Whitney is bulletproof, and for that she should be internally grateful to the news media.

At the time of publication, Cramer was long JPM.

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