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Chinese Market Annihilated - Cramer's Lightning Round (9/24/08)

by: SA Editor Joan Wickham September 24, 2008 | about stocks: AAPL / AMX / CMCSA / DSX / EQT / F / FRO / GU / JRCC / NAT / NYX / RIMM / SQM / UTL / XCO    

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Joan Wickham

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Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday, September 24.

Bullish Calls:

Research In Motion (RIMM) -- “I’ve liked Research In Motion since the show began and I don’t trade it. It is one of the few tech stocks I want to own along with Apple (AAPL). Once the market turns, so should these two stocks. "
Chemical & Mining Co. of Chile (SQM) -- “This is a fertilizer play. I believe in its core nature. I recommended it too high. I can’t cut and run because it’s too cheap."
Ultra (UTL) & Equitable (EQT) -- “The cheapest in the oil patch are Ultra Petroleum and Equitable Resources. They have the most leverage."
Comcast (CMCSA) -- “I would buy Comcast. That company has. I am bullish on Comcast at under $20 a share."
Frontline (FRO) & Nordic American Tanker (NAT) -- “These are the only two stocks I recommend in the shipping industry."

Bearish Calls:

Exco Resources (XCO) -- “Exco represents another good value in the oil patch but Exco is not the best."
Ford (F) -- “Ford is too speculative for me to recommend.”
Gushan Environmental Energy (GU) -- “This is a biodiesel play from China. The Chinese market has been completely and totally annihilated. China has disappeared from the face of the earth when it comes to being an economic power.”
James River Coal (JRCC) -- “There is a big secondary going on. This is another coal stock that I won’t recommend."
America Movil (AMX) -- “When Latin America makes its comeback, this stock could lead the charge. It is not too early to get into America Movil."
Diana Shipping (DSX) -- “This is not one of the two stocks I recommend in the shipping industry right now."
NYSE Euronext (NYX) -- “I don’t like the business model…I can’t recommend the stock. I really like their people though and I feel bad."

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This article has 14 comments:

  •  
    Sep 24 08:52 PM
    Comcast???????? Is he serious? Comcast has the worst customer service in the world. I dropped them when it took me 20 phone calls to correct a billing mistake. They deserve Chaper 11, not an upgrade
    Reply
  •  
    Sep 24 08:57 PM
    Jim Cramer just said the other day that DSX would do well once China's industry started up again. So how can he say that DSX, he cannot recommend it. I wonder about him sometimes. Chuck
    Reply
  •  
    Sep 24 10:42 PM
    Excuse me, but “When Latin America makes its comeback, this stock could lead the charge. It is not too early to get into America Movil."
    doesn't sound bearish to me. It sounds pretty bullish, actually.
    Reply
  •  
    Sep 25 09:25 AM
    His call on China's demise seems more than a bit overdone. Good contrarian signal that we may be close to a bottom there? After all, Shanghai's down something like 66% from its highs. Worth watching here IMO.
    Reply
  •  
    Sep 25 01:39 PM
    Clowns should be required to wear funny red noses!
    Reply
  •  
    Sep 25 03:25 PM
    He doesn't like the business model for NYX, but he loved it when the price was in the 90s over a year ago-again he feels "bad" about it.

    I use him now as a contrarian indicator.Maybe NYX is not a "buy" right now, but I hold some an at these values and might as well keep holding it. Nice try Cramer.
    the NYSE and Euro exchanges are not going away.
    Reply
  •  
    Sep 25 03:44 PM
    DSX is going to do well once china starts buying again.
    Reply
  •  
    Sep 25 06:47 PM
    China's demise is way over done. They will have a GDP of 9%...we could only dream about such things. Once winter begins, you will see
    China take off again for 2009. Nows a great time to pick up DSX on
    the cheap.
    Reply
  •  
    Sep 26 12:43 PM
    Cramer not bullish on NYX? He is just trying to save face after he made everyone so mad saying it was his favorite growth stock last year. Looking at my position in this stock makes me want to puke every day, but I am confident it will return in a big way, and I think you are crazy for not getting in at these levels...Paying a decent dividend of 3% and change, and the growth opportunities from here are great. The business model is still great, the same as it was a year and 2 years ago. The street just hates this stock, probably more than any other stock. They have been beating this thing up coupling it with the financials eventhough, they arent a brokerage. I know the thought process is that the brokerages will be trading less and less, but the volatility has to make up for that. I would have to think that this thing could be back up to $100 in a couple of years, and 130-150% gain isnt bad....
    Reply
  •  
    Sep 26 02:46 PM
    Nice bullish call on RIMM... It's only down roughly 30% in 2 days LOL! Apple is the way to go long term, unless of course Jobs crokes.

    I like Frontline though. Their dividends are unstable, but I'll live with that for a 23% yield...
    Reply
  •  
    Sep 26 06:36 PM
    He mentioned Wal mart the other day as a buy at 58 but last year at 42 he said it was"dead money".He is manic depressive just like Ben Granham's imaginery character Mr Market
    Reply
  •  
    Sep 27 01:32 PM
    anyone who would take seriously a blithering idiot who rattles stock recommendations off the top of his head with little more than seconds of thought and utterly no analysis deserves to lose money. that CNBC keeps this clown on television is a disgrace. i switched to bloomberg long ago.

    i do watch larry kudlow for the occasional half-intelligent and objective guest as opposed to the perma-bulls he likes to feature. but he's also good for laughs because the america he likes to believe exists died long, long ago. he's an utter embarrasement to capitalism itself.
    Reply
  •  
    Sep 27 01:58 PM
    Jimbo called the Chinese market annihilated after it is already down 70%, how about calling it before it happened, like I did last year ...

    investmentscientist.co.../
    Reply
  •  
    Sep 27 06:13 PM
    Cramer's problem is that he is a stock picker during a paradigm change. We are in the very early stages of a long-term bear market for U.S. equities (combined with rising commodities, Asian market & falling dollar) so he is fighting an up hill battle to put it mildly.

    Reply
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