Torpedo Dry Ships - Cramer's Lightning Round (10/8/08)

by: SA Editor Joan Wickham October 08, 2008 | about stocks: ABB / AIB / APC / DE / DRYS / EMR / FRO / GT / NAT / NVS / RIG / VZ    

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Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday, October 8.

Bullish Calls:

Deere (DE) -- “I think the slide in Deere is an opportunity. Business is good and the stock is cheap.”
Novaris (NVS) -- “What's not to like about these drug stocks? Every day people come in and sell them - that's a mistake. Novartis is a buy."
Anadarko (APC) -- “Everyone has given up. Natural gas stocks are so low I recommend picking a name like Anadarko and buying it. Hedge-fund selling has driven prices too far."
Verizon (VZ) -- “I like Verizon and its 6.5% yield.”

Bearish Calls:

DryShips (DRYS) -- “I’m going to torpedo you. I won’t recommend Dry Ships. I only recommend two companies here, Frontline (FRO) and Nordic American (NAT), and they are not doing that well.”
ABB Ltd. (ABB) -- “People are cutting numbers on ABB. People have completely given up on infrastructure. I like the stock but I'm tired of fighting and I'm waiting until the hedge funds do their selling before pulling the trigger."
Allied Irish Bank (AIB) -- “Their 13% yield raises a big red flag. They're a great bank, but any bank in Europe is too risky. They are in total bear mode."
Emerson Electric (EMR) -- “Emerson, like most industrial companies, is down in this market. I think the stock is dirt cheap but no one is listening so I won’t recommend it."
Goodyear Tire (GT) -- “No, no. Goodyear should be going up. The car business is so horrible , I’m not a buyer."
Transocean (RIG) -- “This is a premiere deep water driller. Take the trade. Sell, sell, sell. I don’t trust the market.”

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This article has 13 comments:

  •  
    Oct 08 11:54 PM
    re GT I agree that new cars are on the back burner , but people will still need tires .Cars run on them so they wear out as do most auto parts. We will be keeping our older cars longer but at the right price P/E goodyear will be a very good buy and I believe it s almost there
    Reply | Link to Comment
  •  
    Oct 09 12:32 AM
    These stocks are selling for 20-80% off of the prices that Cramer advised to buy them and now he cannot recommend this market. I guarantee you that once the market recovers, he'll stand there with his hands on his hips bragging about how he "kept you in the game". Oh, it's a game alright.
    Reply | Link to Comment
  •  
    Oct 09 10:02 AM
    RIG was "bullet proof" at 110. Now it is a sell, sell, sell at 80. Just one of many examples fo why nobody should ever listen to Cramer. BTW, FCX was also "bulletproof"... at 110. Anyone remember?
    Reply | Link to Comment
  •  
    Oct 09 10:35 AM
    Agreed Norman, the more I read on Cramer the less I like
    Reply | Link to Comment
  •  
    Oct 09 10:36 AM
    It will be sad to see millions of impoverished baby boomers who sold at the bottom on the advice of a shouting head on TV, digging through trash and resorting to prostitution and petty theft. But then again, what should we expect from the generation that gambles on stocks with one hand and pay 15% credit card interest with the other. You know... the folks who bought GMC Suburbans in 2003 expecting that Bush's war against Iraq would lower gas prices. You know... the folks who ship thousands of dollars each year to communist China and jihadist Saudi Arabia buying too much junk and oil, and then slap a patriotic magnet on their car (a sticker would be too hard to remove I guess).
    Reply | Link to Comment
  •  
    Oct 09 11:29 AM
    Greatest entertainer I know. You people don't really listen and buy on his advise, do you??
    Reply | Link to Comment
  •  
    Oct 09 11:57 AM
    I believe that Cramer is a trader, not an investor. That is why his recommendations change as the economy and market changes. I would like to know what his investment recommendations are.
    Reply | Link to Comment
  •  
    Oct 09 12:21 PM
    To Smartstops,

    I see you are in the Risk Management business. What studies are you referring to that show "Buy and Hold is one of the most riskiest strategies to use"?
    Reply | Link to Comment
  •  
    Oct 09 12:54 PM
    I like most of you have watched Cramer for years. I use to think his advise was the greatest thing since sliced bread. I backed up the truck on RIG at $110 and did likewise on NOV at $54. Well, RIG went to $163 and NOV went to the 80's. Why did he not tell us to sell then. Instead he puts a sell,sell,sell on RIG at $84.
    He would cover himself by saying I always tell you to take some off the table...and he is probably right.
    We all hate to hold losers but RIG and NOV both are international and they will be back. My take on Cramer now is to ignore him...he is in panic mode and his brain is not working right.
    RIG has 10 years of backlogs and NOV does too. The fundamentals on both of these companies is still sound so if you sell now you are doing so at your own peril.
    I would say buy, buy, buy....let's see which one of us is right.
    Two others to buy DE and MOS...absolute steals at this level.
    Reply | Link to Comment
  •  
    Oct 09 02:49 PM
    I should start a mutual fund that does the exact opposite of what Cramer says. I'd be the next Peter Lynch.
    Reply | Link to Comment
  •  
    Oct 09 07:28 PM
    I can't believe Cramer is still recommending Frontline!! He has been recommending that stock from the high of $70 all the way down to almost $30. What a joke. I have been buying puts in this market for awhile now and I have been doing well. I just can't believe Cramer anymore. We are all on our own in this kind of market!!!
    Reply | Link to Comment
  •  
    Oct 10 09:04 AM
    LOng on Oil,
    I like your thinking. I did not know Rig was at 160!! At present time, I am long on three or four mentioned here. WMT DE NOV FCX and PEP and then ABT. I had many others but norrowed it down and thickened up the pot. LOst a bunch margining out. Yes I know.. I learned the hard way.. these margin maintenance calls got me. I never knew the down side to market loss on margin. Chocked it up.. and moving on. I do remember Cramer predicted an 8500 DOW and here we are! Call it or me crazy but he had that right. I did not hear anybody else say it.. maybe guessing, but he said it would happen and it did. Doesn't mean I am buying into his manic.situation
    Reply | Link to Comment
  •  
    Oct 18 10:24 PM
    I am hoarding AIB shares. Maybe I will get headcutted by doing this, but It is worth the try I think, especially at the levels it is now.
    Reply | Link to Comment
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