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Friday, December 01, 2006

December 1st - ATI AUY

Cramer did a look back at his stock of the year Allegheny Technologies Inc. (ATI) as it went from $36 to $88. He said if you owned the stock and took place in the near triple that you should have taken profits. But he also said that if you missed out, you can still buy this stock at the current level because the sector is still hot.

Closing Price: $88.06
After Hours High: $ 89.20
Percent Increase at High: 1.3%
After Hours Most Recent Price: $ 89.10
Percent Increase at Most Recent Price: 1.2%
Sector: Basic Materials
Days to Cover: 1.7
Short %: 4.80 %
% Held by Insiders: 6.10 %
% Held by Institutions: 82.00 %
50 Day Moving Average: $72.57
200 Day Moving Average: $64.77
Average Price Drop for Sector: 5.5%

Too expensive of course, and with these "expensive" stocks (not expensive when looking at the p/e of course) the percent increase is often smaller since people aren't willing/able to bid them up as much.

Next Cramer recommended Yamana Gold Inc. (AUY) because the market "thinks" that things are getting bad with the economy and that gold will go up. Cramer doesn't agree with the market, but what the market wants, the market gets (or the hedge funds control that is), so since the market wants gold Cramer says buy.

Closing Price: $12.85
After Hours High: $ 13.45
Percent Increase at High: 4.7%
After Hours Most Recent Price: $ 13.30
Percent Increase at Most Recent Price: 3.5%
Sector: Basic Materials
Days to Cover: 1.9
Short %: 2.96 %
% Held by Insiders: 0.56 %
% Held by Institutions: 38.70 %
50 Day Moving Average: $9.82
200 Day Moving Average: $9.74
Average Price Drop for Sector: 5.5%

Another commodity stock, and much like my opinion on oil, I'm not going to short a gold stock because they are influenced on the underlying commodity price (not to mention the market sentiment as Cramer pointed out) so in my opinion that trumps Cramer's effect.

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