See Jim's
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11pm Mad Money
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Wednesday, 08/20/08
Posted 08/21/08, 08:49
am ET
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Today's date:
Wednesday, 08/20/08
Dow Jones:
11,417
+ 68
NASDAQ:
2,389
+ 4
S&P 500:
1,274
+ 7
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Cramer's 6pm show has been
replaced by Olympic games'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:
Washington Mutual (WM)...
no relief whatsoever for
share holders there...
Pilgrims Pride Corporation
(PPC)...
we have
Tyson Foods (TSN),
why do we need PPC?...
Mentor Corp. (MNT),
does anyone really care
anymore?... Someone does...
looks like its in
acquisition talks again...
Ag... ag... can you
believe those stocks are
rallying again?... How many
days are we going to get a
fertilizer rally?... It
seems like that's a rally in
a bear market... We all know
what happens in business
happens from the floor up...
And, I've got to tell you, I
read this trader talk every
day by the guy we're about
to see... I think you should
too at CNBC.com... His name
is Bob Pisani, floor of the
NYC...
AFTER conversation with
Bob Pisani:
Thank you Bob Pisani...
All right... Now, I see
Mason rallying tech... Am I
alone in this... Why don't
we go to Scott Wapner at the
NAS... Scott what are you
seeing?
AFTER conversation with
Scott Wapner:
All right... The focus
is so intense in the
potential confiscation... I
like to use that word,
why?... because it's
right... of
Fannie (FNM)
and
Freddie (FRE)
that we simply just plain
overlook the fact that there
is a couple things happening
that ain't so bad... How
about the fact that oil is
not playing into
Goldman Sachs (GS*)'s
tune?... Not that anything
is playing these days to
GS*'s tune... Goldman is
talking about $148... I'm
still saying $110...
Now, that is going to give
potential new life to the
banged up retailers... been
down for a couple days
now... I like
TJX (TJX)...
Shrewd play... when is this
Carol Myers, she's the CEO,
ever going to get any
credit?... How about the
fact that she disposed of
Bob's last time?... Have you
ever been to a Bob's?... No
raise on debt...
All right... more important,
as we talked about with
Scott... this comeback in
tech can be very
meaningful... When we look
at the numbers at
Hewlett-Packard (HPQ*),
I own that for
my charitable trust, full
disclosure, we have to be
amazed that the business
could be that strong in a
worldwide slowdown... Isn't
that the real take away?...
When do we ever hear
that?...
How about the strength in
Apple (AAPL)
today?... The upcoming
launch... I happen to have
had a look at the bold, the
new Blackberry Bold that
Scott Wapner mentioned...
I've got to tell you... I
felt like a Joker getting
that new LG phone from
Verizon a couple of weeks
ago... I'm going to be
scolded... Of course, it's
not out until October, but
the guys at T-Mobile are
already selling it in
Europe... and that thing is
rocking 3G... What a
scream?... I mean I'd be
watching the Olympics on
that thing if it weren't
blacking me out... That's my
six, not my eleven...
Anyway... the strength of
Intel (INTC)
not reflected today...
That's ridiculous... HPQ is
saying notebooks are
strong... Hey break open a
notebook as I do many times
when I get angry, before I
had anger management class,
and what falls out?... Intel
pieces... I think this is
the blueprint for a way out
of the post-Fannie Freddie
clouts...
How funny is it that they
guy's on NPR (National
Public Radio), from Freddie
saying we have a lot of
stock... Hey you know
what?... I say throw the
flag at that guy... He's
unfairly pumping... I'd
throw him out of the game...
Also a 15-yard penalty...
Now, as to the share take,
I'm hearing
Google, Inc. (GOOG)...
and the potential for
QualComm Inc. (QCOM*)
to really bust out on this
Nokia (NOK)
deal... And you know
what?... Nokia has got some
new phones, and we've got
something to build on...
You and I must fight the
gloom that is pervasive
every day down here and
consider that HPQ did mean
something...
Congratulations, Mark Hurd
(CEO)... you are really
good!... That gives
fresh hope that tech isn't
slowing down and, if
anything, holding up
better... even though, of
course, we have to sell
Fannie and Freddie... and
yeah, agree with the guys
from Fast Money... You know,
you sell the
Lehman Brothers
(LEH)
and the
American International Group
(AIG)
and maybe you take a
position against them... But
LEH and AIG, thank you fed
for giving us a free fire
zone... SEC, you guys are
the best...
Jim's comments BEFORE the
interview: All right let's try to
make some money away from
Fannie and Freddie... which
is almost impossible
right?... because it's all
anyone is really focused
on... I'm focused on a lot
of things... I'm focused on
ethanol... I'm focused on
oil... I'm focused on
food...
I'm focused on
Tyson Foods (TSN)...
I'm focused on my next guest
because you know what?...
he's usually so politically
incorrect that usually when
you're on these conference
calls you're like well you
know, it's totally stage
managed... Not this guy...
This guy is the real Bond...
Not James Bond... Dick
Bond... Tyson's Foods
President and CEO...
Dick, good to see you
again... How have you
been?...
. . . . .
Jim's comments AFTER the
interview: Okay, I've got more with
Dick Bonds, TSN's President
and CEO after the break... I
also got Waste Management...
I feel like I'm David Faber
for a couple days...
Jim (after the break):
We're talking with Dick
Bond, TSN's President and
CEO... I've been stressing
the raw costs... That's the
downside... Let's talk
upside...
Jim's comments AFTER the
interview: Thank you so much sir...
Dick Bond...
Tyson Foods (TSN)...
Personal hero of mine,
willing to speak out...
. . . . .
Outrage of the Day:
Jim: I
want to know... What ever
happened to "Stop
Trading"?...
No, not Stop Trading,
the segment which will be
back next week... I miss
Erin... But the notion that
when there is information,
market moving information,
known to some and not
others, that the company,
the New York Stock Exchange,
even this AWOL (away without
leave) SEC should demand
that trading be stopped
right now... If something is
really big at treasury about
Fannie or Freddie even as
the dreamers who run those
companies stick with the
everything is great theme,
this shouldn't be... In the
old days, this kind of thing
would never be tolerated...
But we've become a laissez
faire, radical,
anti-regulation nation...
We say let the market take
care of itself... That there
are stocks that are trading
hundreds of millions of
shares per day, like Fannie
and Freddie... where some
have a fantastic great deal
of knowledge of deals that
are happening and then
others that are clueless...
Trading should be halting in
both names until this
outrage is resolved... It's
a total travesty... And, by
the way, somebody knows
something... because the
credits between Fannie and
Freddie treasuries are
speaking and they're
speaking loudly... Oh,
sorry, use English... The
feds are about to take over
these companies and I guess
that maybe the feds don't
listen to NPR where
Freddie's CEO said this very
morning that it doesn't need
more capitol...
Me?... I was always
skeptical of NPR...
. . . . .
Note: The comments
below were mentioned at the
end of the 11pm full Mad
Money show by Jim, as a
follow up...
Jim: Look, I'm
outraged... I'm furious.
I've got to tell you, you
should be too...
Fannie Mae (FNM)
and Freddie Mac (FRE)...
It's obvious that a bunch of
people know what's going on,
and they're going to make a
fortune, and you are going
to be left not having any
clue and being hurt.
There used to be a thing
called "stopping trading"...
They used to stop trading
when there was some
information that some people
knew and others didn't.
The government here is
running amuck, okay...
They are not protecting you,
they could not care less
about you. I feel for
you. Why?
Because I want people in
this game. I can't
have them in a rigged
game...
FNM and FRE... as
close to a rigging as I've
ever seen. Rigged...
the stocks are rigged...
both of them.
. . . . .
CEO Interview:
David Steiner, CEO Waste Management (WMI)
Jim's comments BEFORE the
interview: We are going to talk to
David Steiner, the CEO of
Cramer-fave
Waste Management (WMI)...
But before we do... Let's
get caught up with the
bizarre love triangle that
has been hurting WMI's
stock... Back on July 14th,
WMI came out of no where to
make an unsolicited bid for
Republic Services... another
player in the WMI business
that had already agreed to
merge with Allied Waste back
in June... Waste offered $34
a share... Republic Services
said no... WMI raised its
bid to $37 a share, Republic
said no last Friday... We
don't know what WMI will do
next... there is arbitrary
assures up the ying yang...
You ought to know... this
attempted acquisition is
definitely, I think, holding
this stock back short
term... Unlike the company,
unlike the management
style... Let's talk to David
Steiner, WMI CEO, who thinks
why the acquisition can
work... I'm worried about
share holders...
. . . . .
Jim's comments AFTER the
interview: David Steiner, CEO of
Waste Management (WMI)...
I am counting on you and I
don't think you're going to
let us down... Thank you for
coming... Appreciate it.
. . . . .
Final Remarks - What 2
Watch For:
Here's some China talk that
is not from Darren
Reveille... Quietly, which
is pretty amazing given its
worldwide importance, the
Shanghai Index fell 50%
trying to bottom... The last
two nights have been good...
We know from the dramatic
collapse in the Baltic dry
rates from the huge
reversals in commodities...
and from the worldwide
slowdown that China's market
correctly foretold all of
these declines... Their
stock market has been dead
right... If Shanghai is
bottoming, and at the same
time, the Olympics are
almost through... will China
have a recovery?... Isn't
that the most important
issue given the incredible
bear market in the
commodities?... and the
world need for a strong
China to sell into?... For
China's money...
I think we are on the verge
of a bottom in the Chinese
market... And, while I don't
expect a U-turn, I do
suspect that the metals that
have been in a free fall
could be stabilizing here...
I think you're seeing it on
your screen right now...
And oil will find a
footing... Remember, I've
been using a $110 price
target... I think we're
almost there... I do not
expect China to reverse
dramatically given the
weakness in the rest of the
world economies... I am
simply anticipating a
stabilization...
But this could be great news
for many of the American
companies that have been
relying on strong Asian
sales... Particularly, and
I'm going to hound you with
this... the tech
companies... which, not
coincidentally, bottomed at
the same time as the
Shanghai index... It would
also be a God sent for the
infrastructure companies...
many of them have been cut
in half... It will also
stabilize the free fall in
the
Peabody Energy Corp. (BTU)'s
and the
Arch Coal Inc. (ACI)'s...
Again, something that seems
to be reflected in their
charts with the bottoming in
China...
A strong China could also be
a counterweight to the
endless bank horror
stories... as the Chinese
still have a lot of money to
place here and be a source
of capital that has been
absent for much of the last
six months... It would also
not surprise me to see China
get into the acquisition
game, under the radar, of
course... China is bottoming
I like it.
[ End of 1:30 "Mad Money: At
The Half" Show Comments ]
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Please read his comments to
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We do our best to interpret
Jim's opinion on stocks, as
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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
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