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Monday, 07/21/08
Posted 07/22/08, 08:57
am ET |
(Scroll down to see Jim's
comments below) |
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Today's date:
Monday, 07/21/08 |
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Dow Jones: |
11,467 |
- 29 |
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NASDAQ: |
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2,279 |
- 3 |
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S&P 500: |
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1,260 |
- 1 |
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Opening Segment 1
Title: |
'Get Shorty' |
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. . . .
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Featured Stock(s): |
No specific stock picks.
General comments.
See Opening Segment 2,
below...
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After this segment, you
can see Jim's Lightning
Round picks
here... |
JJC: Would you
call me crazy?... Would
you call me, maybe not
coherent, if I told you
that one man... just one
person... was responsible
for the bulk of the
monsterous rally last week
in the bank stocks!...
Call me whatever you want,
but I believe that it's
basically true...
Without Christopher Cox,
the SEC (i.e., Securities
and Exchange)
commissioner, I don't know
if this recovery in the
financials would have been
possible, even with the
positives that have driven
the banks up... You know,
there are a lot of
positives, but mostly
Cox...
How did one man make this
possible to happen?...
Simple... Cox started
enforcing the rules!...
The rules that stop short
sellers from taking a bank
stock down, by selling it
endlessly, without first
finding stock to drive it
down with... When you sell
a stock short, you've got
to borrow it first...
That's the rule... but
shorts have been violating
that rule left and
right... selling stock
first, and finding it
later... if they even
bother... something that
allowed them to viciously
and quickly drive down
prices...
. . . .
.
The Bottom Line!:
SEC commissioner Cox has already
shown that he can level the playing
field for the financials, by enforcing
the rules that restrain unfettered short
selling. Now I think he has to step up
and enforce the rules... and there are
rules that are on the books... for all
stocks... He needs to restore the Uptick
Rule that the republicans got rid of
without any thought at all. Only then,
will the shorts lose the upper hand, and
the market will become a safer, fairer
place for you to invest.
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■ |
Stock Snapshots - Includes
all stocks mentioned above |
■ |
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Jim
Cramer's
rating on
this stock |
STOCK
SYMBOL |
Closing
price
that
day |
Opening
price
next
day |
Full Company
Name/Comments
(see comments above for
each) |
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na |
na |
na |
No specific stock picks.
General comments.
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See all of tonight's stocks'
latest quotes on
Yahoo! Finance |
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Most popular
investing books ordered:
(click any book to see at
Amazon.com) |
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Mutual-Fund-Holdings.com
NEW RESOURCE!
See Ken Heebner's CGM
Focus Fund
Top 25 holdings - The No.
3 Top-Performing Mutual
Fund in 2007
|
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Opening Segment 2
Title: |
'Survival Of The
Fittest' |
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. . . .
. |
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Featured Stock(s): |
Wells Fargo (WFC)
US Bancorp (USB)
Bank of America
(BAC)
JPMorgan
(JPM)
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After this segment, you
can see Jim's Lightning
Round picks
here... |
. . . .
.
JJC: For the
last year, all the bank
stocks have been under
siege... They have faced a
brutal, Darwinian fight
for survival... And, as
the dust clears, I
believe, at last, we can
see four banks that have
proven they are the
fittest...
They are the only four
that I believe will
definitely make it through
into the promised land...
By the promised land, I'm
saying 2010... Four
fortress banks that are
still standing... and,
now, have the opportunity
of a lifetime... the
possible chance to buy
struggling, weaker banks
for a pittance...
Who are these four
financial fortresses?...
Wells Fargo (WFC)...
US Bancorp (USB)...
Bank of America
(BAC)...
and JPMorgan (JPM)...
Yep... What do I think
makes these four
fortresses so special?...
All four of them reported
quarters that showed me
they're going to
survive...
. . . .
.
The Bottom Line!:
I think we've bottomed at last! We may
test it again, but we've bottomed. I
look forward to some massive
takeovers... still some runs at the
banks... consolidation and a dramatic
advance in the financials... at least,
these four... over the next year... The
four fortresses...
Wells Fargo (WFC)...
US Bancorp (USB)...
Bank of America
(BAC)...and
JPMorgan (JPM)...
They should be bought on any weakness,
including the weakness that I suspect
you will see aggressively in the selling
that is tomorrow's session.
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■ |
Stock Snapshots - Includes
all stocks mentioned above |
■ |
|
| |
|
|
Jim
Cramer's
rating on
this stock |
STOCK
SYMBOL |
Closing
price
that
day |
Opening
price
next
day |
Full Company
Name/Comments
(see comments above for
each) |
|
|
WFC |
27.54 |
na |
Wells Fargo (WFC)
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