Cramer on today’s WALL STREET CONFIDENTIAL on TheStreet.com video said this sell-off is why he wanted to stay away from China. But he did also say to buy safer stocks because Chinese companies can unwind many other stocks in other countries and the stupid money is chasing those emerging stocks up and down. He thinks minerals will snap back and he thinks that some of the selling was after the Chinese New Years. He would still sell anything Chinese today, but he doesn’t really think this is the next Asian Contagion. He Says you should Buy Coke (KO), P&G (PG), Pepsi (PEP), Kimberly Clark (KMB), Altria (MO), and AIG (AIG) this is a rotation to safer names rather than a panic sell. On technology Cramer said TECH is no good. He does like Cisco (CSCO) at $25 and Microsoft (MSFT) at $27 but tech is not good until the summer. He does think Yahoo! (YHOO) & eBay (EBAY) will be up, as well as IAC/Interactive (IACI). Cramer ending by saying he can’t be scared by the market.
Jon C. Ogg
February 27, 2007
Jon Ogg is a partner in 24/7 Wall St., LLC and he can be reached at [email protected]; he does not own securities in the companies he covers.
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