Cramer on Copper, Casinos, and Google

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By Douglas A. McIntyre Published
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On today’s STOP TRADING segment on CNBC, Jim Cramer noted that the Philly Fed Index is not a good reading according to Cramer, because it would always give a negative yearly reading.

Cramer on Copper prices with copper off more than 2% today: he said it is a fiasco because homebuilders are working off their inventories.  He said Copper itself is headed lower because of oversupply and low demand.  Cramer on Phelps Dodge (PD) said they aren’t just a short-term play and he would actually be a buyer here for longer-term players.  He doesn’t like pure plays right now though like Rio Tinto (RTP) and sell Southern Peru (PCU).

Cramer said on Las Vegas Sands (LVS) that the Macau trade may be long in the tooth, but he thinks LVS & Wynn (WYNN) are well managed and could be bought.

On Google (GOOG) Cramer was positive for its next earnings quarter but said it is "Driftola" right now through the year-end.

Jon C. Ogg
December 21, 2006

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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