Cramer noted his rate-cut stance a tad differently today by being a tad lighter on the timing and urgency by saying the Fed won’t cut until they see year over year declines in commodity prices. He thinks they are more inclined to cut, although cramer’s DJIA 17,000 target is based on a slow-down and weakening mid-year followed by Fed Cuts and then a huge rally. Did I hear that right? 17,000? He noted 14,582 as the 2007-end level on the DJIA back on January 3…
He says tech is still too hard to own through the valley and smart money is bolting on strength. He notes some individual names today like Eaton (ETN) and Kimberly Clark (KMB), he’s still down on tech; but that 17,000 might turn some heads and tickle some ears.
Here is the link to his video from this morning off of TheStreet.com. I went back over that to verify the "17,000" and that sure sounds like what he said. Obviously his 17,000 isn’t replacing the original call from over two weeks ago, but that may be part of a bigger long-term call. We’ll see if he clarifies this later today or during the week.
Jon C. Ogg
January 22, 2007
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