Cramer Not Bearish on Tech, For a Few Days Anyway

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By Douglas A. McIntyre Updated Published
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Cramer on his video from TheStreet.com this morning titled “Forget the Fundamentals” actually noted that tech could rally a few days on the back of Texas Instruments (TXN) finally getting their bad news out of the way.   But he still noted Cisco (CSCO) and Apple (AAPL) as the ones you want to own here with good long stories; he thinks the AAPL options inquiry from the SEC is a charade. This probably doesn’t change the call from last week when he said to dump Tech shares.

Cramer says homebuilders going up on bad news and the way the Goldman upgrade in the sector came out saying the risk-reward is not good for shorts and just shows you can still buy; Cramer disagrees with oil services downgrade out of Bear Stearns because the analyst is directly refuting SLB comments he likes GlobalSantaFe (GSF), Halliburton (HAL), Schlumberger (SLB), and Transocean (RIG); Cramer notes that all of these alternative energy plays that have gone up ahead of Bush’s State of the Union speech will have to be flipped out of between 9:30 and 9:40 tomorrow.

Jon C. Ogg
January 23, 2007

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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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