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Wednesday, November 01, 2006

November 1st - TWX LMC

Cramer's first segment looked at what is working in the current market and what isn't. He said minerals and mining were hot and would continue to be. He said the next hot topic is "cable" and spoke of Time Warner Inc. (TWX). TWX trades on average over 24 million shares a day (and over double that today) as it is coming off earnings news. Too big of a stock to short here off a Cramer recommendation in my opinion.

Next Cramer recommended the former EZM which is now LUDIN MINING CORP (LMC) as a play on zinc and copper.

Closing Price: $35.01
After Hours High: $37.50
After Hours Level Off Point: $36.81

Cramer said that the formation of the new company has given the company more assets and could be a takeover target for some larger players in the sector. Not a lot of information on this stock as it appears it has just started trading under this stock code and according to the headlines they just finalized their merger yesterday. The volume was very small today at only 69,000 shares traded which means if lots of people start buying this tomorrow we could see a large spike. Personally my web broker doesn't even recognize LMC as a stock code yet so I can't see what the after hours action is like yet. I will have to check the delayed quotes in a bit to see.
Update: Not too surprisingly there was a big spike after hours, up near $2.50 at one point. Could be a dangerous one tomorrow but will likely have some opportunities to trade the volatility.

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