Cramer also asked tonight on MAD MONEY on CNBC about Capital One (COF) and how its numbers weren’t great nor was guidance, but the stock climbed big.  He said the newswires panned it and the company lowered fiscal guidance.  The delinquencies were actually better, and that is what the street focused on.  The shorts were betting heavily on the delinquencies rising, and they had to do a rapid short covering after the metrics came in better than expected.  With a believable earnings base the earnings multiple is dirt cheap if you can trust the quality of its earnings.  He said that this is why the shares are up $3.00 since earnings.  The stock is up 1% at $79.80 in after-hours and he thinks this can go up to $100.00.

Jon C. Ogg
January 22, 2007