After this
segment, you can
see Jim's Opening
Segment picks
here...
On
Merrill Lynch (MER)...
JJC: Okay... I
thought your interview with
Smith... both the Smith and the
Dinallo were very important
interviews in this unwinding
situation... Dinallo, because now
we get a sense of why some of the
financials are strong, we're going
to resolve the monoline problem...
Remarkable... Yeah, so you can
just bet if they all react like
Merrill Lynch we're all going to
go up... Obviously the monoline
part of the equation was very
difficult to figure out in terms
of evaluation and price
discovery... The news that Smith
brought is that no one is looking
at the Lonestar side... If anyone
remembers back a year ago, which
of course they don't, LEND was
bought after a shrewdly negotiated
part on the half of LEND because a
lot of people felt that they got
the better of Lonestar... Lonestar
has a servicing business... Oh,
strong earthquake... I was in one
of those earthquakes out there,
we've got to focus on that... What
I saw was that Lonestar may have
gotten the best of the deal... the
financing was really good... And
Lonestar has got the serving arm
of LEND, which was the tenth
largest subprime broker... So
maybe they're putting together
that they're going to unwind the
CEO and maybe be the first
beneficiary of this... Yeah, I
think he did great... I think
Lonestar did great... I think this
was a really, really, really
important move and I can't
emphasize it enough that Lonestar
got the better of Merrill... But
everybody is getting the better of
Merrill...
. . .
. .
On
Other Financials...
JJC:
Wachovia Corp. (WB)...
Wachovia can do something here...
Bob Steel can... If John Thain,
who has been a serial
underperformer, can pull something
off at Merrill, I can only imagine
what Bob Steel can do with
Wachovia... You're buying the
stock a dollar under where he
bought it and a lot of people
think that the financials
yesterday are all over, they're
right back... We've got to stop
being so bipolar about this...
Either make a stand and buy the
fortress ones or the spec ones...
I mean look, I am so close to
saying that I like
Citigroup (C),
it's scary... Yeah, I'm really
close to it...
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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.
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