Publish date:

Cramer Closes in on Closing-Price Manipulation

The trader wants readers to send him the most outrageous markups and markdowns they see during closing.
Author:

If this manipulation in closing prices is so blatant and so obvious and of so much concern to so many of you, I think we should have a most outrageous markup- or markdown-of-the-day contest.

At first, I thought we should just send all of the candidates to the

Nasdaq

. But I think it would be best if we first made it clear how outrageous this all is, so that the people who are profiting from it don't stop us in our tracks with some sort of nonsense about how it can't be helped.

Let me state it again for all to see: Every trade is monitored. Surveillance sees every trade. It is only because of the total disunity -- a disunity that will soon cripple our industry if someone doesn't speak out for the little guy -- that this manipulated chaos is occurring. But if we wait for the

Morgans

and

Goldmans

and

Dateks

and

TheStreet Recommends

Knights

to come to terms with this, it will be too late.

So come on. Send me the most outrageous markups and markdowns during the last minute of trading. And I will be on it. If nobody else will take this stuff seriously, I will.

Random musings:

Kudos to

Maria Bartiromo

who took up the outrageous case of

Aetna

(AET)

today. I am no suck-up, and at times have been critical of her work, but has anybody noticed that she won't let anybody get away with the usual line of b.s. that people throw out in this business? To me it is fabulous to watch. She is using her power to try to change things for the better for all of us. My hat is off to her. Great work, Maria B.!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Goldman Sachs. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.