On tonight’s MAD MONEY on CNBC, Jim Cramer said today’s blemish is not a reason to not own some stocks out there. He is featuring the ‘obvious money trades’ that are leaders and that buck any downtrends. His list of $80.00 to $100.00 stocks are the ones heading to Par ($100) that tend to go to $120.00.
One such name is ConocoPhillips (NYSE:COP). This is on the might of the mutli-billion dollar buyback that is a "buy-high and sell-higher" trade. It has gone through $80.00 and could go through $100.00. The real story is the oil industry and it being great. It is only at 9.7 times forward earnings and Cramer thinks it is undervalued after it announced it will buyback 10% of its stock.
Yesterday his names were Boeing (NYSE:BA) and Caterpillar (NYSE:CAT).
Jon C. Ogg
July 10, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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