Cramer in his own words...

I'm getting a lot of requests for the Cramer video which was on the Street.com's Wall St. Confidential hosted by Aaron Task. If you watch Aaron, he clearly gets a little uncomfortable with Jim's candidness. I think Jim Cramer is a smart guy and well connected to Wall Street, especially being GS alumni.

To put the video in context, this was released before APPL came out with the Iphone, you'll here a reference to a false rumor that is hypothetically floated about AT&T not wanting the phone, which was a major undertaking for AT&T to upgrade their equipment to handle the Iphone capability, so that gives you some sense of the time frame.

I just don't trust a word Jm says on Mad Money, I think he's carrying water for Wall Street and I've had major market tops called wIth 3C in which he was telling hIs viewers to buy, he's smarter then that, but it helps his Wall Street buddies unload a position in to demand that he creates. Furthermore, how often do you hear Jm talk about shorting a stock? You have to understand what CNBC is and what Mad Money is, they are a business, they aren't what many people assume them to be. As a business, when a CEO comes on and speaks, it's a paid infomercial more or less. If Cramer said short XYZ, do you think that EO would pay money to come on the show to have his company showcased? Remember, it's a business that derives income from advertisers and Cramer's friendships and connections are a lot stronger with his Wall Street friends then they are with his viewers. Just try to read the diagonal disclosure on the show! That alone should tell you something.

However, this is Jim taking the bait and opening up about the true nature of Wall Street. He even says in the video, "This isn't something I'd say on my show", meaning Mad Money. He also says if Fund managers aren't willing to "play the game", meaning engaging in tactics that fall along the gray lines of the law, "then they shouldn't be in the game."

One other concept is something you see on 3C charts often, in a lateral accumulation range you see negative divergences near the top of the range, that's Wall Street putting some money out to knock the stock back down so they can accumulate. Jm talks in some depth about spending money to knock the market down so they can profit from the move, this s the same concept as what you see in 3C charts.

So here's the video, make sure you watch and bookmark it because it's getting harder to find, it may just disappear one day. I think Cramer regrets giving the interview in retrospect.

HERE'S THE LINK