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   Update! :: Just bought new position in TEVA Pharmaceuticals, and just sold all of ESRX!
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Here is the latest Mad Money show recap:
  
                Read all of Thursday night's complete recap

Own Apple stock?  See Jim's 3/11 recommendation to best profit off of the upcoming iPad launch, and AAPL stock  here >>

Thursday night's show highlights: 
  
Tech is very different this time around:  10 years after the dot-com collapse...
Tech Is Solid Now!

  Thursday, March 11, 2010
 
 

Jim:     Everyone's buzzing about the peak of that Nasdaq 10 years ago... the anniversary of the horrible dot-com collapse... and how brutal that selloff from the 5,000 level was... a slide that ultimately took us to 11,008... before we bottomed... a decline of 4,024 points... and we're still trying to recover from it. And we remain 2,764 points below that high point, even after this rally, where we closed at 2,368...


Now that the anniversary of the tech top is almost upon us, we're once again in a place where the market just won't quit... with the Dow moving up again today. I mean, no different right... this time, it added 45 points, the S&P advanced 0.4%, its highest since October 2nd of 2008.

Just as disturbing to the skeptics... speculation seems to be running rampant. The situation seems kind of similar, and we have to ask if now is the time to sell, like it was time to sell tech back in March of 2000. And, as someone who nailed that top almost to the day... who told people to sell, sell, sell
the Nasdaq and move into bonds... something I was doing at my hedge fund at the time... right after riding the rally up into the teeth of the peak, I'm just the guy arrogant enough to think he has the answer to that question.

We have had some remarkable runs in some Nasdaq stocks lately. There is no denying it. But no one's really drawing the parallels... I mean, think about it. You certainly could... FFIV, that speedster of the internet, up 240%, AKAM, up 92%... JDSU, 407%?... CREE, 281%... and, of course, AAPL jammin'... 164%.

So I think we have to ask about the similarities to the tech top we ran into 10 years ago, as well as the differences...

Now, nobody likes to come in on a gallop... chasin'... Just like 10 years ago, we have had huge gains, and I do think it would be irresponsible not to take something off the table. At the old days at the hedge fund, we would say, "let's schnitzel a little"... schnitzel meaning, let's cut back a little. Congress appears to be in meltdown mode, desperately trying to pass anything, just so they can say they passed something. If you are a bull, well, you've got to hope it's not healthcare. We also seem to be stalled under that key Dow 10,725 level... and, if we get up to 10,725, there's no assurance we will rally through it, because we will be so overextended at that point.

I think it's very risky to buy at these prices. I think ringing the register is the sound strategy, as this is a moment where you have to protect what you've made... protect your profits.

Compared to where we were 10 years ago, I know that as late as February of 2000, I was still cheerleading, despite the heat I got because I still was, I still caught another 1,000 Nasdaq points before I exited. Think about it...

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Read all of Thursday night's complete recap

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  Lightning Round Picks:
 

 Ford (F)
Jim:  
You bet it is… I made money here otherwise…I was surprised that Toyota Motor Corp. (TM) said strong sales.. I am hearing now, get this, my sources indicate that we may have a $12.5m auto build in this country… that GM is ramping up plants, I understand GM is actually paying back the government next quarter… do you know what that means for Ford? It means sales are really exploding…I want to buy Ford, I want to buy FORD Preferred (F-PS), I want to buy them right here, right now, anytime of the week.

 

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  Amylin Pharmaceuticals Inc. (AMLN)   Jim:   No, this diabetes play has run up too much… I do not know if it is even worth it for the extra… I know that they were talking about it on the “Fast Money” in the mid day, to me I say… do not buy, do not buy, do not buy… enough of a run… boy has biotech been hot… Bob Pisani featured biotech today, told you that the group has been red hot… I am getting a little nervous… I do not like to buy biotech after it has had a big run.

 

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  Clean Energy Fuels Corp. (CLNEJim:   Well, you know what is driving Clean Energy is that we got this really fantastic report… I mean they reported a great quarter… this thing is going to make a lot of money… now I have to tell you, we have been behind Clean Energy and Andrew Littlefair so much that people say, Jim, why do you always have him on all the time? And the answer is because the stock is working… and when I have been recommending the stock for some time, because I believe in the clean fuel filling station model… and yesterday we saw a great quarter… and that is why the stock is not done going higher… CLNE is still for me.

 

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