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Sunday, October 29, 2006

Cramer: FDA Approval Stock?

Cramer then went over an old idea that is still working. Sometimes goodones at highs keep going. He went over Palomar Medical Tech (PMTI). He hasbeen positive on this numerous times and he thinks the vanity of today isdriving this. He said he has been on it since $34.00 andnow it is $48. Hesaid if you have been there the whole time you could take some off thetable. He said the shorts didn't cover either.Cramer thinks the new laser will get FDA approval for home use, and thebears do not think the FDA will approve it. He said they also getback-streams of revenues from competitors after the won patent cases againstthem. He said trades at 30 times earnings and has over 30% growth.He says that even 30% above his initial call he thinks this can make you madmoney.Jon C. Ogg

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