Cramer Say's Disney Was No Mickey Mouse; He Likes It

On tonight’s MAD MONEY show on CNBC, Cramer went over a stock gift because it went down for no reason.First he noted the NYMEX (NMX) IPO. He said it isn’t the ideal entry point, but you should only buy 1/4 of a position of whatever you want to buy now and add in as it drops down. But Cramer said the NYSE (NYX) should be the buy right here since the NMX is worth $12 billion and NYX is worth $14 Billion. NYX is bigger and better.The stock that was down for no reason to Cramer is Disney (DIS). He said it is down $3 since earnings, but this is a buy. He thinks that DIS’s first down move might not be able to be trusted. They didn’t really do anything wrong. They didn’t miss earnings or revenues, prime time did well, but the reason it fell was because the estimates were raised a lot ahead right before the company’s quarter was announced. That created an artificial comparable confusion on the street, but it is firing on every cylinder and even them parks did wellfor DIS. He thinks movie costs are coming under control, although Pirates II was over $200 million and Pirates III will be expensive too. ABC and Disney channel ratings are going up. While the street thinks Disney can’t grow like this forever he thinks that NASCAR will be a huge add for it in 2007.DIS closed down 0.35% at $32.94 in normal trading today, but shares rose 1.3% to $33.38 in after-hours trading.Jon C. OggNovember 17, 2006