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Energy

Cramer Says Ethanol Stocks Are a Joke (corrected story)

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By Douglas A. McIntyre Published

Cramer came out on CNBC’s STOP TRADING segment discussing the ethanol and alternative energy names that have been running up yesterday and today ahead of Bush’s State of the Union tonight.  Cramer said he’d be selling the VeraSun (VSE) and Hoku Scientific (HOKU) and other ethanol big run-ups here.  In his video this morning I alluded to him saying he’d tell people to sell those immediately tomorrow at the open.  Cramer maintains that ethanol stocks might work only if oil is $100 per barrel.  He even said ethanol is a collossal joke that everyone is in on, but it’s a joke that can be played until 9:31 AM.

Here is some conjecture about tonight’s State of the Union:  With the ratings where they are and with the other candidates having already thrown their hats into the ring, this State of the Union speech won’t be as impacting as the others.

Here is a partial list of the others that often trade in the same group: Xethanol (XNL), Aventine Renewable (AVR), Pacific Ethanol (PEIX), US BioEnergy (USBE), Green Plains Renewable (GPRE), MGP Ingredients (MGPI), and The Andersons (ANDE).

Archer Daniels (ADM) and Monsanto (MON) are thought of as the real companies that can win.   Bunge (BG) is rarely mentioned, but BG is the soy maker that directly benefits from biodiesel (which is actually profitable without government subsidies).

 

Jon C. Ogg
January 23, 2007

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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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