On today’s STOP TRADING segment on CNBC, Jim Cramer noted that the Philly Fed Index is not a good reading according to Cramer, because it would always give a negative yearly reading.
Cramer on Copper prices with copper off more than 2% today: he said it is a fiasco because homebuilders are working off their inventories. He said Copper itself is headed lower because of oversupply and low demand. Cramer on Phelps Dodge (PD) said they aren’t just a short-term play and he would actually be a buyer here for longer-term players. He doesn’t like pure plays right now though like Rio Tinto (RTP) and sell Southern Peru (PCU).
Cramer said on Las Vegas Sands (LVS) that the Macau trade may be long in the tooth, but he thinks LVS & Wynn (WYNN) are well managed and could be bought.
On Google (GOOG) Cramer was positive for its next earnings quarter but said it is “Driftola” right now through the year-end.
Jon C. Ogg
December 21, 2006
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