Dear Jim: Bergen County native Boo-Yah!!! I am torn between Verizon and AT&T after watching the show yesterday. I think the combination of the iPhone, iPod, and iTV might all end up going through AT&T. Also, if iTV and the iPhone catch on as much as the iPod did, then T could dominate the whole Voice-Internet-TV play by virtue of their partnership with Apple . What do you think? --Mike
Cramer says: “Certainly a possibility. I am a big believer in Apple,” but he would rather buy Verizon as a telco play than AT&T.
Dear Jim: You closed Mad Money last week by saying the market looked the best you had seen for a while and you expect the Dow to go to 14,000 and now is the time to be in. You said don't sell in May and go play, but stay in the market. Now one business day later on Monday's Mad Money, you said we should pull back and buy the 3 "B’s" for defense. You showed a clip from 'The Chris Matthews Show,' using the "R" word. My head is now spinning. I don't understand the change, in one business day!!! Please help me understand. --Joe
Cramer says: “No, I said on ‘Christ Matthews’ that we’re going much higher but you cant do it with companies that are domestic.”He recommends getting out of pure domestic plays and into “rest-of-world” plays or defensive plays in America. Cramer says his stance is clear: “I think we are sliding into recession if the Fed does not cut but it will not cause the Dow to go down because there are many international companies.” Stay defensive domestic; aggressive international, he says.
Dear Jim: I have a question about Level 3 Communications . I think the last earnings were great. They reduced debt and beat earnings by about 7 cents without the 29-cent debt payoff. However, the stock price continues to fall. I think that right now the stock should be at $7, not $5 and change. Despite all the good news, why does this stock continue to fall? --Alex
Cramer says: “A lot of people are in LVLT for a quick spec.” He recommends buying LVLT aggressively right now for the next run to $7.
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