Cramer Has Changed His Stance on Tech

Media

Published: January 17, 2007 1:59 pm

The body language was coming clearer for a change of heart in tech from Cramer on his videos and on his shows, but when you watch today’s "Wall Street Confidential" on TheStreet.com you will not have any doubt that he is no longer behind tech as a whole.

Rackable (RACK) is seasonality of tech and it says you have to make some sells in tech stocks now without waiting for the next one. Cramer said he doesn’t know why people were buying Intel (INTC) and he didn’t want to be there ahead of the numbers. Cramer says it cannot be owned right now.

Cramer thinks tech can still outperform in 2007, but this part of the annual calendar is where technology starts to fall off. He still likes H-P (HPQ). He thinks on Cisco (CSCO) that if the stock pulls back to $25 or $26 on downgrades then you can look at it.

Cramer said he doesn’t care on Apple (AAPL) about the quarter: If it’s down then it’s a gift and if not then you stay owning it. Cramer thinks Vista is showing that it won’t carry all the tech groups like it seemed. Lighten up on EMC (EMC).

The bull market is still in financials and JPMorgan (JPM) was a buy. Capital One (COF) is one of the most hated names around right now.

You can take profits on airline stocks and then you can buy them again. He still likes UPS (UPS) and transports on pullbacks.

Cramer has more picks on his video segment, but this sure sounds he has definitely changed his stance on tech as an entire group. Now he’s getting much more selective in the sector.

Jon C. Ogg
January 17, 2007

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