After this
segment, you can
see Jim's Opening
Segment picks
here...
On
Bank Stocks...
JJC: This is a
feared day, Erin... Actually, more
fear today than I've seen any time
other than Bear Sterns, and a lot
of it is because we've got these
single-digit stocks falling on a
percentage basis that frankly, is
just ghastly if you own one of
those stocks... Why?... In 1990,
all of these disappeared... I
mean, it's the same playbook, you
didn't start bottom fishing until
most of the savings and loans disappeared... We just
lost the first one...
IndyMac Bancorp Inc.
(IMB)... Give
us a chance to lose some more... I
would emphasize that everyone in
the game knew that IndyMac was
going to go... Everybody... It's
because they had a huge number of
non-performing assets... You want
non-performing assets, I give you
Washington Mutual (WM)... You want
non-performing assets, I'll give
you
National City Corporation
(NCC)... You don't
want to wait until there's a line
out the door getting your
deposits, just look at the NPA's
(non-performing assets),
that's what determines whether a
bank is going to be seized or
not... NPA's, non-performers...
Maybe, I mean, you have
Downey Financial
(DSL),
BankUnited (BKUNA),
FirstFed (FED),
these are all... You know, look,
why not just tell the darn truth
here... I mean, everyone of these
is getting a call right now from
the government just saying, hey
guys, raise some more capital
right now... Look, that's what
happened to IndyMac... It got the
call to raise more capital and
they couldn't... Those banks
shouldn't be notified...
Obviously, you've got NCC...
they have a big champion...
Washington Mutual has a big
champion... These are people who
put in money substancially
higher... They should be called
right now and say, listen, you
either come back to the table now
and put more money in, or we're
going to close Washington Mutual
on Friday, and re-open it as
Washinton Federal Mutual... That's
what happened to two of the banks
I had money in in 1990... My
actual banks, I didn't know the
difference... Hey, it was great,
ATM's worked on Monday...
. . .
. .
On
Homebuilders...
JJC: Right, now
that was, I thought, a make sense
trade... Now, obviously, you saw
Centex Corporation (CTX) clear the dividend...
Toll Brothers (TOL)
up... It's so funny because TOL
tends to sell non-conforming
homes, meaning you don't have
Fannie Mae or Freddie Mac involved
because their homes are more
expensive... But I'm looking for
this group to bottom ahead of when
the banks bottom... And, you know,
I do really feel like we're
getting close... One merger of a
Pulte (PHM) and a
DR Horton (DHI), or a
Lennar Corp. (LEN) and
a CTX brings you to a bottom in
that group... But we need to see a
merger before we can get
excited... TOL could be the
Hudson City Bancorp (HCBK) to the group,
though, where nobody is left
standing except for TOL... That
could happen unless we see some
mergers...
. . .
. .
On
Drillers, President lifts the
the offshore drilling ban...
JJC: Right,
Oceaneering (OII),
we've focused on that... Obviously
Schlumberger (SLB)...
FMC Technologies, Inc. (FTI), is the company
that actually is the best in
preventing the next Santa Barbara,
the 1969 incident that the
democrats keep citing as if it
were yesterday... I mean, I don't
know, I was what, 24 then... I
remember it like it was
yesterday...
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Please read his comments to
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We do our best to interpret
Jim's opinion on stocks, as
we think it is indicated by
his comments during the
show. Please read his
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Back up the truck -
indicated by Jim, when he
says the stock is so good,
that he would do a
'mon-back' on the stock...
In other words, this is the
sound someone would say to a
truck driver, "Come on
back... " as he is "backing
up the truck" to load up on
his cargo. Translation
for buying stocks:
This recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point.
Stumped. - Of the
2,000+ stocks that Jim
Cramer has in his head, for
which he has an informed
opinion, he sometimes comes
across a caller with a stock
he does not know well enough
to opine on... He then
indicates he is stumped and
will have to come back to
it, after he does some
homework of his own on
the stock. This
usually occurs during the
Lightning Round, when Jim
does not know in advance who
is calling, or what their
stock question is about.
Definitions of key phrases
used by Jim, known as
"Cramerisms":
Definition: 'Pull the
trigger' is Jim's phrase for making
the decision at that point to trade -
either to 'buy' or
to 'sell' (although he
usually uses the phrase for
buying), as if to say you
should feel comfortable
enough to make the final
decision without looking
back...
Definition: 'Ring
the Register' is Jim's phrase for
selling a stock, and making
it a final sale, that you
should not look back on.
Put it behind you.
Definition:'Let It Come In' indicates how you
may wait for it to pull back, or have the
stock price come down briefly, as your
chance (after letting it come in) to buy
the rest of your position (i.e., total
number of shares you own in that stock).
Definition:'backing it up'
or 'doing a 'mon-back' is Jim's
phrase for the metaphor of backing up a
truck to load up on a stock by buying
it. 'Mon-back is short for the
imaginary worker saying, 'Come on
back...' as the truck is backing up to
receive its load... Notice that we use
the little truck icon to indicate where
Jim has mentioned this.
Translation for buying
stocks: This
recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point.
See more
"Cramerisms" & other
financial phrases
here >>
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