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11pm Mad Money
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Tuesday, 08/19/08
Posted 08/19/08, 04:21
pm ET
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comments below)
Today's date:
Tuesday, 08/19/08
Dow Jones:
11,348
- 130
NASDAQ:
2,384
- 32
S&P 500:
1,266
- 11
All comments on one
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All on one page...
See today's 1:30pm
show comments below...
Note:
During the two week
period, 8/11-8/22, Jim
Cramer's 6pm show has been
replaced by Olympic games'
coverage. Therefore, CNBC is
airing special abbreviated
half hour segments, called
"Mad Money At The Half"...
as well as the normal Mad
Money, full-hour shows, at
11pm.
Given this later schedule of
only an 11pm showing (vs.
the normal 6pm showing), all
full show recaps will be
posted as soon as possible
on the following business
mornings.
Beginning of the 1:30pm show
comments...
. . . . .
Introductory Comments:
'Pulse of the Market'...
Jim: Again, we
can see the industrials, the
big heavy guys going up...
Cleveland-Cliffs Inc. (CLF), iron
company... It looks like the
steels are trying to make a
comeback... I don't want to
bank that... I think it's a
contrary rally... Mining
companies making a
comeback... again,
contrary...
Gap Inc. (GPS),
retailers can't get out of
their way... they already
had a gigantic move off of
the bottom...
Goldman Sachs (GS*),
what can I say?... trying to
stay here... obviously the
quarter is just a horror
show...
Freddie Mac (FRE), can you
give me a break, Freddie
Mac?... Can you disappear
already?... You're driving
me crazy...
Tenaris SA (TS), boy the oil,
oil service... Even
Hess Corporation (HES),
lowly worm HES is up...
Progress is not this
market's most important
product, clearly...
So, we're smack in the
middle of no-mans land
waiting for
Fannie Mae (FNM) and
Freddie Mac (FRE) to be confiscated by
the US government... and I'm
watching
Lehman
(LEH) twist slowly in
the wind...
It's hard to think there's
anything positive at all,
isn't it?... spike in oil,
proverbial expired feline
bounce, shutting off the
oxygen to tech... that
tenuous thread won't
break... Ridiculous airline
rally, obviously stopped it
right in its track... never
recommended an airline ever
on Mad Money, not going to
start now...
The oils go up just enough
to want to go out of them
and retail is giving back
those gasoline gains... Hey
look, I think that it is
important to recognize one,
how thin this market is...
man everybody got in in like
17 seconds today... and
people got seats on the
train... nobody is around...
so every move is
exaggerated... and second,
the market is responding
only to binary commodity
action... Commodities up,
send everything else down...
commodities down, send
everything else up, except
for, of course, Fannie and
Freddie, which are
disasters... We've got no
leadership... no leadership
whatsoever...
I think there could be
leadership lurking around
the fall corner, though...
And again, it's tech, I'm no
Pollyanna... Think of the
litany...
Cisco
(CSCO) says things
are better,
Dell Inc. (DELL) says things
are better...
Apple (AAPL) says
things are better...
Intel (INTC)
says things are better...
Research
In Motion (RIMM) says it...
QualComm Inc. (QCOM*) says
it...
Broadcom Corp. (BRCM) says it...
Amazon.com (AMZN)
says it...
EMC (EMC) says it...
Hey, what's not to like,
right?... This is the group
to watch... It is the group
that can break the tie
between commodities and
non-commodities... But I
come back again, careful,
thin market... motivated
bears... free fire zone
financials... laissez faire
academics at the SEC...
thanks a lot... Toxic
combo... The NASDAQ is sure not in
agreement with me, at least
in this momentary
analysis... That's why I'm
going to Scott Wapner at the
NASDAQ...
Jim's comments AFTER the
conversation with Scott
Wapner:
Scott Wapner, thank you
for not making up a thesis
about why the action is
occurring... there are so
many days where that is the
case... very good to be
candid... Got the hair cut
today, got them all cut...
you think I can resist these
kinds of jokes?... The talk
of the barber shop was
entirely how bad the market
is... Same as the coffee
stand... the coffee didn't
even taste good... Even
construction workers... as
my friend buddy pal trying
to get you into the
nighttime Mad Money would
say, I'm talking about Bob
Dylan... You don't need a
weatherman to know which way
the wind blows... To me, it
remains business as usual...
a little cash, a little
diversification, a little
ingenuity, and you're going
to survive this period...
That's all we're going to
do... This is capital
preservation period, not
appreciation period...
Jim's comments BEFORE the
interview: I am still
reiterating... We bottomed
July 15th... One of the
reasons why we did is
because of our first
guest... Hey we got a star
studded show today... It's
just a cliché... Anyway
during this daytime show we
had a company that reported
a monster good quarter,
helping to turn the bank
stocks around, which in
turn, then, helped by a peak
in oil, put a bottom in most
of the stocks I follow...
That's why I am thrilled to
welcome the one bank guy
that seems to have anything
positive to say... It's John
Stumpf,
Wells Fargo (WFC)'s President and
CEO, welcome back to the
show John, good to see you..
. . . . .
Jim's comments AFTER the
interview: Excellent... after the
break we're going to have
John Stumpf stay with us
because he is the most
important man of the hour, I
believe... John Stumpf,
WFC's President and CEO, on
Mad Money at the Half...
thank you for sticking
around...
Jim continued after the
break... Regular
viewers of the regular Mad
Money know that we've been
saying that WFC is one of
the fortress four, one of
the banks that is actually
worth investing in in a
sector that we cannot
stand... Which is why we're
thrilled to be live with
John Stumpf, WFC's President
and CEO...
Jim's final comments AFTER
the interview:
John Stumpf, thank you for
telling it the way it is...
I think you've answered the
bears... You are why I think
you are the best bank in
America... Thank you for
joining us, John Stumpf,
President and CEO of
Wells Fargo (WFC)...
good man... These are tough
questions... He answered
them all... He didn't duck
Whitney... He didn't duck
Davis... He gave the
answers... You be the
judge... I think this one is
inexpensive, even though
it's twice book (value).
. . . . .
Outrage of the Day:
No "Outrage of the Day"
today...
. . . . .
CEO Interview:
Jonathan Tisch, CEO Loews Corp. (L)
Jim's comments BEFORE the
interview: I think Strahan
(referring to now-retired
Defensive End, Michael
Strahan, of the NFL New York
Giants) now wishes he played
for the network that
broadcasts the Olympics...
not those other guys... We
keep hearing that the
American consumer is tapped
out... Really high end,
luxury consumer, can they
ever go out?... Can they
keep the economy moving?...
Are affluent consumers
tightening their purse
strings?
I've got one guy who knows
this pulse of this part of
the market better than
anybody in the country...
Jonathan Tisch, Chairman and
CEO of
Loews Corp. (L), 25 year
friend to talk about the
high end consumer... Mr.
Tisch, how have you been?...
. . . . .
Jim's comments AFTER the
interview: Okay, Jonathan Tisch, and
a great book, by the way...
Chocolates on the Pillow Aren't Enough... had you on for that...
Great to see you, thank you
for your explanation.
. . . . .
Final Remarks - What 2
Watch For:
Arson!... That's what is
going on here... Arson!...
Fed mandated arson, abetted
by shortsighted, and some
would say, endlessly
blundering leadership of
Dick Foley... I'm talking
Lehman Brothers
(LEH),
which can't seem to make up
its mind whether to sell its
great money management
biz... talk about a bad
idea... Great trading...
come on Dick Foley, make a
move before it's too late.
[ End of 1:30 "Mad Money: At
The Half" Show Comments ]
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Symbol keys:
A Charitable Trust stock.
- An asterisk next to a
stock symbol indicates that
Jim mentioned it is a stock
that he manages within
his
charitable trust portfolio.
You can see the complete
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Thumbs up - indicates
he would buy the stock or,
at the very least, not sell
the stock. We do our
best to interpret Jim's
opinion on stocks, as we
think it is indicated by his
comments during the show.
Please read his comments to
decide for yourself.
Thumbs down -
indicates he has said not to
buy or to sell the stock,
based on his comments
We do our best to interpret
Jim's opinion on stocks, as
we think it is indicated by
his comments during the
show. Please read his
comments to decide for
yourself.
Back up the truck -
indicated by Jim, when he
says the stock is so good,
that he would do a
'mon-back' on the stock...
In other words, this is the
sound someone would say to a
truck driver, "Come on
back... " as he is "backing
up the truck" to load up on
his cargo. Translation
for buying stocks:
This recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point.
Stumped. - Of the
2,000+ stocks that Jim
Cramer has in his head, for
which he has an informed
opinion, he sometimes comes
across a caller with a stock
he does not know well enough
to opine on... He then
indicates he is stumped and
will have to come back to
it, after he does some
homework of his own on
the stock. This
usually occurs during the
Lightning Round, when Jim
does not know in advance who
is calling, or what their
stock question is about.
Definitions of key phrases
used by Jim, known as
"Cramerisms":
Definition: 'Pull the
trigger' is Jim's phrase for making
the decision at that point to trade -
either to 'buy' or
to 'sell' (although he
usually uses the phrase for
buying), as if to say you
should feel comfortable
enough to make the final
decision without looking
back...
Definition: 'Ring
the Register' is Jim's phrase for
selling a stock, and making
it a final sale, that you
should not look back on.
Put it behind you.
Definition:'Let It Come In' indicates how you
may wait for it to pull back, or have the
stock price come down briefly, as your
chance (after letting it come in) to buy
the rest of your position (i.e., total
number of shares you own in that stock).
Definition:'backing it up'
or 'doing a 'mon-back' is Jim's
phrase for the metaphor of backing up a
truck to load up on a stock by buying
it. 'Mon-back is short for the
imaginary worker saying, 'Come on
back...' as the truck is backing up to
receive its load... Notice that we use
the little truck icon to indicate where
Jim has mentioned this.
Translation for buying
stocks: This
recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point.
See more
"Cramerisms" & other
financial phrases
here >>
Helpful Websites:
See the stocks currently
known to be in Jim Cramer's
Charitable Trust at:
Stock Homework 101:
This is an excellent
upcoming site that provides
resources and links to help
you do that homework that
Jim Cramer recommends after
hearing his suggestions...
FastMoneyRecap:
This site will be a quick
summary of recommendations
made by the great Fast Money
TV show crew, that will
offer you a unique service,
to compare their picks to
Jim Cramer's past comments
about those stocks.
... had you on for that...
Great to see you, thank you
for your explanation.
