Cramer Ready For Profit Taking (AAPL, RIMM, GOOG, AMZN)

On tonight’s MAD MONEY on CNBC, Jim Cramer said he expects a correction soon from an expected 1% to 2% pullback.  He wanted to review his FOUR HORSEMEN OF TECH, and says you want to buy these on pullbacks.

The portfolio is up 31% since he created this just in May.  These companies have pricing power.  Maybe if you are a trader you can take some off the table a to lock in some gains and then nibble these back after a pullback. 

• Apple (AAPL) has been underestimated too much, and the iMac is massive.
• R-I-M (RIMM) is up over 70% and you should take some profits even though it is going higher to $120.00.
• Google (GOOG) is up the least of the group but they are going to blow out the numbers; target $650.00.
• Amazon.com (AMZN) is a winner because of high oil and energy costs, plus because of no state sales taxes; target was $100.00 but now $120.00.

If you read a brief review of his video segments this morning, this sounds a bit more cautious than he was just this morning when he made the first reviews.  Here are some other fairly recent key calls:

• JIM CRAMER’s TOP PICKS FOR 2007
• Cramer’s "Mortgage Madness Portfolio"
• Cramer has a few China Stock Picks, although he is very cautious there…
• Cramer reviewed Warren Buffett stock picks, and then reviewed a second group.

Jon C. Ogg
September 24, 2007