June 6th - PEP UTX MMM AUY
Cramer spoke about poor earning companies vs. good earning companies. The 3 companies with good earnings that are good for this weak market were:
PEP Pepsico Inc.
UTX United Technologies Corp.
MMM 3M Co.
PEP
Close: $60.52
After Hours High: $60.75
UTX
Close: $60.05
After Hours High: $60.45
MMM
Close: $82.26
After Hours High: $82.55
Too expensive and not much after hours volume or price action. Might be worth looking at the poor earnings companies he mentioned in the first segment LU IMAX and HBR since the first two were down a bit after hours while HBR had no action. I'm not a huge fan of that idea since there is no spike to short down, but would appear more interesting then shorting the 3 good earnings companies.
Cramer's gold pick was AUY Yamana Gold Inc.
Closing Price: $9.37
After Hours High: $9.90
Percent Increase at High: 5.7%
After Hours Level Off Price: $9.85
Percent Increase at Level Off Price: 5.1%
Trades on AMEX
Sector: Basic Materials
Short %: 1.7%
Days to Cover: 1.3
This was a steady climber after hours. Gold was down today and brought this stock down 5.5% so the increase after hours has brought it back up slightly higher than today's regular hours high of $9.75. I think its pretty apparent that an up day in gold will bring this up and a down day will pull it down. So the price will probably over-power the Cramer influence on the stock. So unless there is a huge spike at the opening bell and gold prices aren't up there might be a short opportunity but it could be risky if gold prices change suddenly.
posted by CramerTracker @ 6/06/2006
11 comments
Comments on "June 6th - PEP UTX MMM AUY"
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Anonymous said ... (June 06, 2006 7:16 PM) :
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CramerTracker said ... (June 06, 2006 7:51 PM) :
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Anonymous said ... (June 06, 2006 8:04 PM) :
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CramerTracker said ... (June 06, 2006 8:11 PM) :
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Anonymous said ... (June 06, 2006 8:33 PM) :
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Anonymous said ... (June 06, 2006 8:42 PM) :
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Anonymous said ... (June 07, 2006 12:12 AM) :
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CramerTracker said ... (June 07, 2006 8:19 AM) :
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Anonymous said ... (June 07, 2006 9:52 AM) :
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Anonymous said ... (June 07, 2006 12:20 PM) :
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CramerTracker said ... (June 07, 2006 3:55 PM) :
post a commentHow do you find MyTrader?
You talk about after hours trading, is there a free on line source to watch this, or is it through your broker?
Great blog, I'm willing to bet Cramers staff reads it.
I looked at MyTrader a bit yesterday and it has lots of really good stuff. The only thing I can't seem to get is an accurate chart for pre-market activity. I was looking at an example with some pre-market trades, but there was just a straight line drawn and 1 price even thought there were several trades.
I am also looking at Medved QuoteTracker which allows you to link up to your broker and it will feed information to the software and draw charts. It is taking a bit of setup and I don't have it doing what I want yet either, but I think it will.
For after hours trades I am using http://www.tradingday.com/is/auy.html now. I think it might only be displaying trades through INET and not other after hours sources but it gives me a good idea of what the price is doing. I used to use my broker which had a great live chart tool but the broker I got switched to doesn't have the same thing....very disappointing
These are rocky times for the "Cramer Effect". I am willing to bet a return to normalcy after the fed meeting on June 28th.
Ben Bernanke seemed like a good pick ,at first, but now I have nothing but negativity on the issue. This was yet another bad pick by Bush. I once supported Bush, but after Ben Bernanke, I cant help but have some mixed feelings. I am being kind with the use of the word "mixed".
The economy seemed to be going well and the market on a roll. Now Ben wants to sink it. I dont see any harm in at least one pause.
The "Cramer Effect" seems to work best on more abstract lesser known equities with average volume under 1 million per day. I dont think Cramer has enough audience to swing the likes of Pepsi or Citibank.
Agreed 100% on the Cramer effect on the smaller lesser known companies. No doubt he can move those stocks and the majority of the volume can be more attributed to Cramer. I don't tend to go into much detail on his bigger well known stocks because they don't move up a lot after hours (unless they are really cheap) and the price movement the next day can't be attributed to Cramer 100%.
As for Bernanke. He seems like he wants to prove that he can be a tough guy....didn't Greenspan do something similar when he first started that job?
I have mixed feelings on Greenspan as well. For example, hiking the interest rate up to 6.25% in an obviously over-inflated stock market in 2000. Another good example is where he lowered the interest rates so low and then created a real estate market boom that is bound to bust.
Both Greenspan and Bernanke are not good communicators. Greenspan is this guy who always seems to have a riddle for us all and we are always left guessing. Bernanke is a guy who seems like the geek in high school always saying the wrong things at the wrong time. Everytime he speaks you can hear the shake and quiver in his voice similiar to a young teenage kid being pulled over for a traffic ticket. Both of them seem to have a priority to fight inflation, although, their priority is not to do the right thing for American investors. They both seem to have the ability to create great crashes of the financial markets. Hey, at least they prevented inflation, but at a cost of billions of dollars for ordinary investors. The true victims in the end is always mom and dad type working people whose 401k accounts crash rather then the wealthy or affluent.
What we need is a man that is the CEO type. One who always seems to have the right things to say at the right time. One who is truly capable of doing a good job without crashing all of the world markets.
Greenspan and Bernanke are a joke. We have to keep a master list in front of us of when they will speak otherwise we risk certain disaster. Its exasperating building up a sweet position in what seems like a good company only to get ripped up by these two individuals that want to fight inflation at any cost.
If the world markets collapse onto themselves creating mass poverty and unemploymnent, Bernanke will be happy because the price of Tide did not go up this month.
People like Bloomberg and Paulson are Captains of industry who built billion dollar empires with their own hands from the ground up. They are ideal for government leadership positions because they have proven themselves in the most vicious business environments.
Guys like Bernanke, on the other hand, are understudies in the world of business and economy. They have only written, studied and taught about the topic at a University. They dont have any hands on real world experience. Where is Bernankes actual experience? He is certainly no Captain of industry.
There is an old saying here that makes perfect sense. Those that cant do, teach.
IMO, Cramer's playing it safe in this turbulent market and only recommending the old geezer stocks to his viewers. Guess he's afraid that he won't have many viewers left if he recommends stocks outside of the tried and true that lead the novice viewer to lose their 401k. He sold the traders out for higher tv ratings, IMO.
No doubt he is trying to play a bit safer these days but is still finding some time to pick some smaller stocks like his 5 orphan picks. Hard to blame him for being safe though. He is saying a lot more on his radio show "But I don't know if it has bottomed".
One more thing on MyTrader...
Try this. Download the RTTrader (free trial), it's the same as MyTrader but meant for real time after you pay some $$. Use the same server us you would for MyTrader. I find it gives better minute and tick data, it is still delayed though. The servers I have used are cindy.fongan.net, delay1.fongan.net, delay2.fongan.net.
Exerpt from a Cramer email today...
he knows he effects the markets...
"Bad cost bases have haunted me during this selloff. I accept it, they are part of the product, but I wanted to alert you that far too often when I go to buy something, by the time my order is put in I am paying far more than you are for the stocks I write about. Similarly, when I sell, by the time I get my order in -- remember, there is a lag between when you get the Alert and when I can move -- the stock is often destroyed well beyond where I wanted to get out. This is always going to be a problem, but it is being accentuated by the market's volatility right now.
Consequently, you are going to see me make smaller moves for now, 200 shares here, 300 shares there, so as not to get the worst price of the day, which I have gotten for about a month now. Do not take this as a sign of a lack of conviction, just accept it that as a professional, I can't stand to buy up often a point or even 2 from where I am issuing an Alert; vice versa with the sells. The impact on my performance is just too drastic to do anything bigger. Even when I try to buy 1,000 shares of United Technologies (UTX:NYSE), a big-cap stock, I find myself handicapped by this flood of orders and paying the top tick of the day. That happened in URS (URS:NYSE) and Ingersoll Rand (IR:NYSE), too, and accounts for a good deal of my lagging performance.
I am never going to change this product. You are always going to get the Alerts appreciably before I take action. I just wanted you to get a heads up on why the increments of my trades have shrunk."
THanks for that last email from Cramer. It looks like his actionalert group is bidding up his picks just like his TV audience bids up those picks...except now he is the one paying up too much for his own picks and is obligated to do so! Cramer's own popularity is coming back to bite him in the butt. But will his reduced performance reduce the number of people that subscribe to his actionalert service?? Quite the catch-22 he has got himself into.