Cramer’s First 1/3 of Bottoming Stocks
On tonight’s MAD MONEY on CNBC, Jim Cramer said the market escaped a bad day but the damage has been done. Cramer thinks you can go bottom fishing after a very big drop, so he focuses on the most discounted…
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On tonight’s MAD MONEY on CNBC, Jim Cramer said the market escaped a bad day but the damage has been done. Cramer thinks you can go bottom fishing after a very big drop, so he focuses on the most discounted stocks and you have to have plan knowing not everything bottoms at the same time.
The first 1/3 that bottomed is what you find in the supermarkets and inside the medicine cabinets and those rallied and can still be bought:
P&G (PG) can go up another point; others you can buy are Colgate (CL), Clorox (CLX), General Mills (GIS), Heinz (HNZ). But Altria (MO) excites him the most with a recession proof business and a 4% yield plus the coming break-up. Cramer thinks the rules of the past have changed and you can’t buy Pfizer (PFE) or Eli Lilly (LLY) because they have risk; he thinks you can buy some biotech like Celgene (CELG) and Gilead (GILD) regardless of a slowdown.
Jon C. Ogg
February 28, 2007
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