RealMoney Radio Recap: No WIRE Hangers-On

"For two months now I have been urged, cajoled and beseeched to talk up Encore Wire (WIRE Quote), a company that makes copper wire largely for homebuilders," Jim Cramer said on his "RealMoney" radio show Wednesday.

However, in the time people have tried to push this stock on Cramer, he has seen it go down in a free fall, from $40 to $23. Had he listened to his critics and recommended Encore Wire, Cramer would have hurt many of his listeners.

"My credibility would be gone," he said. "Encore Wire is levered to the worst part of the economy, and it has missed its estimates big-time and has had its earnings estimates for the future slashed." ...