Cramer's MAD MONEY (September 19, 2006)
Cramer's New Pick: SBUX
Tonight on Cramer's MAD MONEY, Cramer reviewed Abercrombie & Fitch (ANF) after saying it had a perfect bottom in the summer. Cramer said he called for it as a Buy on July 7 and it is up $11 since then. He said you have to pay attention to the analysts, but don't listen to them. He wants to look for too much negativity and Bear Raids. You want to look for them way down. Cramer says ANF is going higher still.
In a call-in he was asked about Coach (COH), Cramer was asked if he should take profit. Cramer said go ahead and take some profits off the table. In another call in he was asked about JCPenney (JCP); Cramer said that was his favorite at $64 and it isn't done until $70.00.
Cramer also said to hold Oracle (ORCL) since it is going higher.
Cramer said that SBUX, WFMI had losy momentum; but Cramer said Starbucks (SBUX) is not a broken company, just a broken stock. He thinks the company is back and can go higher. He said it posted well in August and he did hedge sayimng that SBUX if they post under same store sales estimates that they could go under $30.00. SBUX closed up $0.04 on the day at $33.68, but it traded up to $34.13 after Cramer said he thinks the company could slay their numbers. He said the Chairman of the company is out speaking all over the place giving interviews, and they can't do that if they are having massive problems. Cramer says SBUX can still grow. He said they could be closer to saturation, butthey aren't anywhere close to that at all overseas.
Jon C. Ogg
Tonight on Cramer's MAD MONEY, Cramer reviewed Abercrombie & Fitch (ANF) after saying it had a perfect bottom in the summer. Cramer said he called for it as a Buy on July 7 and it is up $11 since then. He said you have to pay attention to the analysts, but don't listen to them. He wants to look for too much negativity and Bear Raids. You want to look for them way down. Cramer says ANF is going higher still.
In a call-in he was asked about Coach (COH), Cramer was asked if he should take profit. Cramer said go ahead and take some profits off the table. In another call in he was asked about JCPenney (JCP); Cramer said that was his favorite at $64 and it isn't done until $70.00.
Cramer also said to hold Oracle (ORCL) since it is going higher.
Cramer said that SBUX, WFMI had losy momentum; but Cramer said Starbucks (SBUX) is not a broken company, just a broken stock. He thinks the company is back and can go higher. He said it posted well in August and he did hedge sayimng that SBUX if they post under same store sales estimates that they could go under $30.00. SBUX closed up $0.04 on the day at $33.68, but it traded up to $34.13 after Cramer said he thinks the company could slay their numbers. He said the Chairman of the company is out speaking all over the place giving interviews, and they can't do that if they are having massive problems. Cramer says SBUX can still grow. He said they could be closer to saturation, butthey aren't anywhere close to that at all overseas.
Jon C. Ogg
posted by douglas mcintyre at 4:24 AM
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