November 15th - AAPL Canadian Energy Trusts

Cramer's first segment looked at Microsofts new portable music player the Zune and how it is trying to compete with Apple Computer Inc. (AAPL) and Cramer made the bold statement that the Zune "sucks" and to buy AAPL which is going to $100.

Closing Price: $84.05
Sector: Technology
Days to Cover: 1.1
Short %: 3.30 %
% Held by Insiders: 1.48 %
% Held by Institutions: 72.40 %

Too expensive and too big to short of course and although I don't know much about the Zune, I'm not sure what it can have that can pull people away from the iPods, unless they cut prices by so much that people want to save some bucks. Microsoft does have the money to support a weaker product and hope that it catches on, but I don't see why AAPL should worry about that.

Finally Cramer looked at Canadian Energy Trust due to their high yields after getting many emails on it. These stocks (trusts) have been hit by the Canadian government after they have decided to tax income trusts as corporations (in 4 years time) because they government was missing out on too much money. Cramer named the following 5 of these trusts where he thinks the bottom is in and will bounce back up some. He also said that if the government changes their mind on this decision, these stocks should go back up where they were a few weeks ago.

Canetic Resources Trust (CNE)
Enterra Energy Trust (ENT)
Pengrowth Energy Trust (PGH)
Baytex Energy Trust (BTE)
Precision Drilling Trust (PDS)

CNE
Closing Price: $13.19
After Hours Price: $14.39
Percent Increase: 9.1%
Days to Cover: 0.2
Short %: 0.09 %
% Held by Insiders: 1.41 %
% Held by Institutions: 12.70 %

ENT
Closing Price: $7.48
After Hours High: $8.99
Percent Increase: 20.2%
Sector: Basic Materials
Days to Cover: 6.6
Short %: 5.06 %
% Held by Insiders: 0.49 %
% Held by Institutions: 14.30 %

PGH
Closing Price: $16.39
After Hours Price: $17.11
Percent Increase: 4.4%
Sector: Basic Materials
Days to Cover: 1.7
Short %: 1.49 %
% Held by Insiders: 2.59 %
% Held by Institutions: 0.30 %

BTE
Closing Price: $17.84
After Hours Price: $19.19
Percent Increase: 7.6%
Sector: Basic Materials
Days to Cover: 1.1
Short %: 0.33 %
% Held by Insiders: 0.77 %
% Held by Institutions: 10.20 %

PDS
Closing Price: $23.01
After Hours Price: $24.44
Percent Increase: 6.2%
Sector: Basic Materials
Days to Cover: 1.8
Short %: 1.14 %
% Held by Insiders: 1.99 %
% Held by Institutions: 34.20 %

All of these stocks/trusts were up BIG today, between 5 and 10% each and all on higher then average volume. All of these stocks are up big after hours now as well with ENT up around 30% for the day! Seems pretty ridiculous, but these stocks have been hammered since the announcement from the government but they are still down from where they were even with this spike (except for ENT). I looked at some Canadian news sites to see if there was some news to give a reason why these income trusts were up today but didn't see anything besides the federal government running at its first deficit for the year (because they lowered sales tax by 1%). So....will all the investors that got killed on these stocks see this as an opportunity to get out? Can these stocks go back up to where they were? Not likely because the government hasn't changed their mind on this yet so the upside can only be so high. ENT is probably the one I will focus on since it is up the most after hours, and I didn't see it break $9 as I was watching but hit $8.99 so it may test that again tomorrow morning and fall back. It is also trading higher after hours then it was before the government news hit so it has likely gone up the most because it is the cheapest, even if it doesn't deserve to be there. It did just report earnings on the 10th and has been down since then...before today.