On today’s Stop Trading segment on CNBC, Jim Cramer came out with his feathers ruffled about the DJIA over 13,000 even though he did say Amazon.com (AMZN-NASDAQ) had run up too much ahead of earnings just yesterday. Cramer came out very strong on the market calling for a 1,000 point rally in the DJIA by end of summer. This is what he thinks is a conservative forecast, this is a breakout and retail hasn’t been in the market. Even if we have a correction, he thinks it won’t even be 10%. The buybacks have eaten the supply of stock and shorts are getting killed. He noted that Caterpillar (CAT), Honeywell (HON), Coca-Cola (KO), Nova Chemicals (NCX), and Nabors (NBR) are all headed up. Cramer even said there are hedge funds being put out of business because of Amazon.com (AMZN), although he didn’t note his “it has run too much ahead of earnings” call from yesterday.
Jon C. Ogg
April 25, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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