Wednesday, 09/03/08
Posted 09/03/08,  08:43 am ET

(Scroll down to see Jim's comments below)

 
 
Today's date:  Wednesday, 09/03/08

  Dow Jones: 11,532   +15
  NASDAQ:   2,333   - 15
  S&P 500:   1,274   -  2
 
 
 
 
     

Stock Snapshots - Includes all stocks from callers' questions

     
After this segment, you can see Jim's Closing Segment picks here...

 

 



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Jim
Cramer's
rating on
this stock

STOCK
SYMBOL

Closing
price
that
day

Opening
price
next
day

Full Company Name/Comments
(see comments above for each)

AUY

9.67

na

Yamana Gold Inc. (AUY)

AUY -  They missed the quarter, and there is no excuse to miss the quarter... now that gold is done going up, I cannot venture into the deep waters that are AUY.  If I needed a gold stock, I would go with Agnico-Eagle Mines Ltd. (AEM).  I do like to have, long term, a gold position... but I've got to tell you something... this commodity selloff is so bad that, even when I said I like the natural gas and oil, it's got to be for a trade only, because there are so many funds that got this wrong, and they're hammering everybody.

AEM

52.40

na

Agnico-Eagle Mines Ltd. (AEM)

See AUY comments above for:
AEM

RIMM

114.78

na

Research In Motion (RIMM)

RIMM -  Overdone to the downside!  I mean, the whole tech thing was just ridiculous today.  Corning Inc. (GLW) was bad...  Last night we got a call... I said, listen, I'm worried about big-screen TV, but I thought it was getting cheap...  Oh boy, was it ever cheap today... and it just sent down all of tech.  I've got to tell you, I am not buying this over-reaction in tech.  RIMM went up 15 points from here.  I think it can do it again.  Apple (AAPL)'s got a big event next week.  I think AAPL's okay.  Honestly, GLW and Dell Inc. (DELL) are not tech to me.  I'm not saying tech's great, but I am saying I'd rather own tech than sell tech right here, particularly after this monster selloff of the last two days.

Price target for RIMM:  $129.78

TAP

47.77

na

Molson Coors Brewing Company (TAP)

TAP -  This one's way overdone.  Now, I happen to like Brown-Forman Corporation (BF-B).  BF-B reported a quarter and suddenly nobody likes that either.  I like BF-B.  I like TAP.  I remember there was a viewer who called me on it, and said, listen, you should be recommending Anheuser-Busch (BUD).  That is obviously right.  BUD is done.  That's gotten a takeover bid.  The hops situation, the raw costs of beer have come down... the raw costs of the can have come down...  I want to reiterate that I think this TAP is way too down...  I want to buy TAP...  I want to buy TAP...

BF-B

72.07

na

Brown-Forman Corporation (BF-B)

See TAP comments above for:
BF-B

ADCT

9.68

na

ADC Telecommunications Inc. (ADCT)

ADCT -  Obviously an inexpensive stock but I do not like telco... ADCT is going to trade with Corning Inc. (GLW).  GLW is fiber.  I think ADCT is too hard.  I think it's too hard.  I would actually... it's unbelievable... I prefer MOT and NOK to ADCT.   I say stay away... don't buy, don't buy...  Just too hard... some stocks are just too hard to own... and that one is one of them.

MOT

9.41

na

Motorola Inc. (MOT)

See ADCT comments above for:
MOT

NOK

23.53

na

Nokia (NOK)

See ADCT comments above for:
NOK

MGM

34.50

na

MGM Mirage (MGM)

MGM -  $10 a share ahead?  C'mon... Ca-ching, ca-ching, ca-ching (sell it!)...  I think we are over casinos in this country.  We have far too many casinos.  I don't like the margins of the casino business.  I think Macau is saving a couple of casinos.  But I have left that group.  I put that group in the Sell Block at the beginning of the year, and I like that positioning... sell, sell, sell... and I'm not opening up the Sell Block anytime soon... no early release for these guys... no conjugal visits either... 

EBAY

24.24

na

eBay Inc. (EBAY)

EBAY -  No, no, no...  EBAY, frankly the volume is declining... This company would be better bought for the PayPal business.  I cannot get in front of EBAY and I cannot get in front of Yahoo! (YHOO).  I've got enough trouble by liking Google (GOOG) and Apple (AAPL) here and Research In Motion (RIMM).  I don't need more trouble and I've got to tell you, that one is trouble. 

YHOO

18.76

na

Yahoo! (YHOO)

See EBAY comments above for:
YHOO

SQM

34.76

na

Sociedad Quimica Y Minera de Chile (SQM)

SQM -  It was the only fertilizer and lithium company that I was willing to stick with, as I turned negative on that concept with the ag... and I've been killed in this one...   I mean, they have just crushed me.  It has just been a monster, and I still think it represents great value... but I'm seeing the Agrium (AGU)... unbelievable...  I am seeing the Potash (POT)...  amazing...  I am seeing the Mosaic (MOS)...  killing me... and, I've got to tell you, I think you're going to have to take some pain... I think you're in the house of pain with that.  It's going to be at that address for a little bit...  I do believe that the ag trade ultimately will come back but, right now, it feels like the nat gas trade, and I can only handle one of these steamer trunks on my back at a time. 

EGLE

23.53

na

Eagle Bulk Shipping Inc. (EGLE)

EGLE -  No, I'm still going to go with Frontline (FRO).  I'm not going to stick my neck out for any of these others, other than FRO.  And, again, I reiterate that the pricing has come down for all of shipping, because China just absolutely just ordering anything.  I mean, it's amazing; it's like China dropped off the face of the earth!...  I have never seen anything like it... They're not buying anything, and it is just amazing... it's like they've gone underground...  they're invisible.  And that's why everything is just falling apart in the commodities.   You have to understand what I'm saying here... China has vanished.  It has vanished...  The Shanghai (Stock Index), down 55%...  I want to buy the Chinese market, that's how low it is... but these guys have just vanished, and that, coupled with the fact that a lot of hedge funds were betting that China was going to come back after the Olympics... it was like a final pass... they were getting killed... China has disappeared... and, until China comes back, we are not going to see any of the bulk shippers... we are not going to see the copper companies, we're not going to see any of the aluminum companies, we're not going to see any of the steel companies come back.  And I don't know when China's coming back.  It is amazing.  They have just disappeared!  And, until they come back, more pain is ahead.  

FRO

53.18

na

Frontline Ltd. (FRO)

See EGLE comments above for:
FRO

RHT

20.44

na

Red Hat Inc. (RHT)

RHT -  I liked when the CEO was on...  I thought the CEO told a good tale... nobody seemed to care at all.  That is somewhat unbelievable to me.  I had a lot of bears tell me that the company is a house of cards.  I don't think it is.  Tech's obviously in a bad way today.  I like RHT.  I've got to tell you though... down here, isn't...  I'll tell you something... I've got to feel like that maybe we've got a decent trade coming in Salesforce.com (CRM), but I'm not sure yet.  But software has not been my ideal... I have not pushed any software companies, and I'm not going to get behind them right now.  

CRM

53.98

na

Salesforce.com (CRM)

See RHT comments above for:
CRM

CVS

37.45

na

CVS Caremark Corp. (CVS)

CVS -   I think retail is part of a major trend, that is to buy... of which I will lump CVS in, although it's not my favorite.  Alright, here's what's going on... We are in what's known as an early cycle rally... That's where the banks rally, the housing companies rally... even the auto companies... did you see the bad numbers from Ford (F), and that stock was up... and retail...  That's where we are, in the early cycle.  For those of you who do not understand it, I've got it in Jim Cramer's Real Money... but I have a chart which shows you what works in this particular moment... and it is the early cycle, and the early cycle is so on fire... It's on page 115, and you can see exactly what's happening.  It is so true to form, in this book...in Real Money...  So I am telling you, we are in a classic early-cycle rally.  It's going to continue, and CVS is going to be part of it.  I want to stay in the early cycle.  I believe in the early cycle.  I believe in the banks.  I believe in the bottom from July 15th... and someone tell me... where are the Chinese buyers?  Because, when they come back, we're going to have quite a rally...

       

[ end of lightning round ]

   
 
After this segment, you can see Jim's Closing Segment picks here...

Go to the CLOSING SEGMENT from tonight's show here >>

See current quotes on Yahoo! Finance from tonight's show stocks here >>


Netflix, Inc.


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 portfolio
of stocks here >>

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 >>
   
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