Jim's
rating on
this stock

STOCK
SYMBOL

Closing
price that
day

Full Company Name & Jim's Comments:

FCX*

27.29

Freeport-McMoRan (FCX*)

See BHP comments above for:
FCX*

PG*

51.45

Procter & Gamble (PG*)

Q:     With all of the softness in the economy right now, how do you think of Procter & Gamble is going to fare?

Jim:   I sold those… Procter & Gamble (I sold) for my charitable trust fortunately between $61 and $63... I kept in… that was a mistake… I have to tell you even after this tremendous decline in Procter & Gamble it is still not a cheap stock… it still does not have the big yield… I am not going to recommend that people buy it… now that does not mean I dish Procter & Gamble thru $60... I think at the $57, $59 level it will become so attractive that I will probably average down for ActionAlertsPlus… but right now I don’t want to touch it.

FNFG

12.54

First Niagara Financial Group (FNFG)

Q:     I was wondering if this one was an exception, First Niagara Financial Group?

Jim:   You know what… I understand exactly what you are thinking… I understand that you think this one can escape the morass… it is below book value… it does have a 4% yield… but I am unrelenting… unrelenting… in my negativity on bank equity… because you know what… obviously we have got a big banking trouble sector… it feels very much like 1989, 1990... I am not going to pull the trigger.

PBR

28.68

Petroleo Brasileiro (PBR)

Q:     Since Petrobras seems to continuously be able to add to their reserves, is it time to buy a little PBR?

Jim:   I have got to tell you… where I am from after a very bad gaff on the show… not knowing what the younger people like… when I hear PBR, I say crack open a cold one… I am talking about Pabst Blue Ribbon… I am not going to recommend PBR the oil stock… if I want oil, I want yield… if I want yield I am going to take ConocoPhillips (COP*)… forget PBR… it is a good beer… but it is a bad stock.

COP*

46.11

ConocoPhillips (COP*)

See PBR comments above for:
COP*

GPS

11.50

Gap Inc. (GPS)

Q:     I am looking at GPS - The Gap?

Jim:   Keep looking… you can shop there… I don’t want you to touch it… I have to tell you something… I do think the Gap is not good… I don’t like retail… I do like J. Crew Group (JCG)… but the clothes… not the man.

OSK

9.29

Oshkosh Truck Corp. (OSK)

Q:     Just wanted to get your thoughts regarding Oshkosh Trucking?

Jim:   I used to like the Oshkosh pajama play… but Oshkosh Trucking no… I think it goes right back to $5... I don’t want to be anywhere near that… I am very negative on Oshkosh… I didn’t think the quarter was that good… I don’t like the business model anymore… I say sell, sell, sell… do not pull the trigger on that.

Expected price decline to:  $5.00

[verbatim recap]

[ End of the Lightning Round segment ]