Stock Tickers: WFMI, SBUX, CAT, AMD, BJS, SLB
Cramer was discussing 52-week highs and lows earlier today on TheStreet.com’s Wall Street Confidential and he likes buying 52-week high stocks, but everything has to work out. After watching Whole Foods and Starbucks (WFMI/SBUX) finally at too lofty of levels you saw what happened. Cramer said he is more drawn to 52-week highs right now than he is 52-week lows in the current market.
He noted that Whole Foods (WFMI-NASDAQ) needs a catalyst and management isn’t doing much and they don’t know they have a really bad division in California. A change in management would be good, but don’tpull the trigger yet. He thinks a new COO would help. (As a reminder, Cramer was a lover of WFMI for a long time before they had their first recent blow-up last year)
Caterpillar (CAT-NYSE) has now gone too far and he’s working non-stop on it. Morgan Stanley has written entirely research from the bearish view, and Cramer thinks the manifesto is wrong. If you get any sort of uptick or any help in housing it would help CAT.
On Advanced Micro Devices (AMD-NYSE) Cramer said AMD is in huge trouble. Intel woke up and the cash flows are really bad. They can’t just bounce back and they overbuilt fabs.
Cramer said BJ Services (BJS-NYSE) showed a bad quarter while Schlumberger (SLB-NYSE) did well, and that may be the fragmenting starting in the energy patch where you now have to pick the winners.
Jon C. Ogg
January 31, 2007
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