is a "done" stock and people should realize that the money they've made in it is all the money they're going to make in it for now, Jim Cramer said on TheStreet.com TV's Wall Street Confidential
Web video Thursday.
Cramer liked Wynn from $80 to $167, but then Morgan Stanley released some data saying that Macau is not growing at the rate analysts were looking for, and consequently the stock went down 12 points, he said.
Following this news, people posted a series of questions on
Stockpickr.com, asking him whether he still likes Wynn. "I think that people have to recognize that there is a price that I like something at and I was right at, and now there's a new price and a new data point that makes it so that even down 12, I'm not interested in Wynn," Cramer said.
"I've made my money in Wynn," he said. "Talk to me later about Wynn.
"There are people who say my methodology is to buy down 1% to 2%," Cramer continued. "I have no methodology. That's all made up. Whoever thinks that they've crafted my methodology is dead wrong."
There will be instances where he wants to buy down 1% and 2% like in the case of
, and then there are instances where the fundamentals change and where he'd rather buy down 50%, he said.
All people want to know, particularly in Stockpickr, is when they should buy. "I never hear anyone just say 'Should I ring the register? Am I being greedy? Has Wynn gone up too much?'" Cramer said. "These are unprofessional comments by unprofessionals."
While he said he doesn't mind a level of unprofessionalism, Cramer doesn't like criticism from unprofessionals who have not figured out the way he works. "I do like constructive comments, but I do no like to hear 'Jim, aren't you going against your discipline?'" he said. "When I go against my discipline, you will know it."
But until then, market players should be smart and not be greedy, Cramer said. "I am not seeing any of that in the comments on Wynn and I feel bad for the people because they will be slaughtered.
"If Wynn's fundamentals had gotten better and it was down 12 points and it hadn't done a secondary, it's a different story," he went on. "But the stock has gone up big, it's priced for perfection and when perfection doesn't develop, you should be concerned."
Similarly, Cramer believes
Research In Motion
is going to report "a picture perfect" quarter on Friday, but it might not matter.
"The stock is up enough and it may be a great excuse to sell," he said. "There is a tremendous disconnect between stocks and fundamentals. The fact is that RIM has doubled. I'm urging people to disassociate the stock price from the fundamentals because a lot of times the fundamentals are already baked into the stock price."
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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