On today’s STOP TRADING segment CNBC, Jim Cramer noted the Fed, but he really hit options again as weighing on the market. He said Nucor (NUE) and Best Buy (BBY) are weighing on the market. While he noted some individual stocks, he didn’t say anything really big or bad on any names.
NUE -8% at $59.20; BBY -4.8% at $51.33.
He is trying to avoid the negative chatter right now to not miss a big move. There is a private equity "put" (meaning they will buy anything weak) and a weak dollar making our companies attractive. Focus on earnings, but he won’t get tricked into believing BBY is permanent. The main reason he would be happy is because spending is still happening, and we want things to be a little weaker.
Oh well, earlier he said "PHARMA ISN’T WORKING" so we’ll see what he has to say this evening.
Jon C. Ogg
December 12, 2006
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