Rio vs. RIO - Cramer's Stop Trading! (6/20/08)

by: SA Editor Miriam Metzinger posted on: June 23, 2008 | about stocks: ABK / BAC / C / GU / RIO / RTP    
  • Font Size:
  • Print
Recap of Jim Cramer’s comments on Stop Trading! Friday June 20.

Bank of America (BAC), Citigroup (C), Ambac (ABK): The Dow is "hideous," says Cramer and the financials are to blame. Mutual funds who thought they were bottom fishing are now panic-selling, sending the financials down.
Gushan Environmental Energy (GU): Cramer says the Chinese need alternative energy more than we do, and recommends GU which may have some new innovations.
Rio Tinto (RTP), Vale (RIO): CEO Tom Albanese told Cramer China’s appetite for commodities will fuel his business, and sees Toyota’s potential development of a battery-powered car will substantially increase demand for aluminum and copper. Cramer still prefers Vale, which he says is the cheapest mining stock in the world.

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and his Wall Street Confidential Picks.

Get Cramer's Picks by e-mail -- it's free and takes only a few seconds to sign up.

Seeking Alpha is not affiliated with Jim Cramer, CNBC or TheStreet.com

This article has one comment! Add yours below...
Miriam Metzinger

SA Editor
Miriam Metzinger

About this author:
Become a Contributor Submit an Article

This article has 1 comment:

  •  
    Ishortyou
    Jun 23 07:39 AM
    In respect to AMBAC and MBIA, they need to keep and save all the cash possible including stop paying dividends, deleverage from all their risky liabilities specially those CDS, CDO's, RMBS-ABS of uncertain value, in order to remediate their book values, once their book values are sound they need to reinstate their triple A rating again to write new low risk public bond insurance business. They can also open or extend a line of credit to make sure to continue operations and dissipate doubts.

    They are already doing these, so it will take some time to deleverage their books from uncertainties and rewrite new business again. This coming back will be the best advertisement to recruit new clients.
Loading...
Symbols:
Authors:
Quick Links:

ETFs In Focus

  • Long Ideas

  • Short Ideas

  • Cramer's Picks