Dear Jim: In 2005, my dad passed away at age 56 after a five-year battle with colon cancer. He worked at Foster-Wheeler as a boiler designer for 10 years. I have been watching FWLT since you recommended it in the $40s. I had been hesitant to pull the trigger on FWLT until your show last month when you recommended it. I felt as though my dad was telling me something (OK, this is a little wacky), but since his birthday is May 18 I pulled the trigger at $68 on 4/18 for 100 shares. I sold 70 shares today at $87. I am going to let the 30 run to par. I am happy to provide the statements so you can verify my results and let all those silly critics in the press know that you are making people $$$. I am using the proceeds from my trades to pay off the $10,000 bill that I have from my dad’s funeral. --Mike
Cramer says: “This is as good as it gets…I’m glad I could do something to help you pay for things.” Hearing about the FWLT profits made Cramer’s day, he says.
Dear Jim: Do you like Massey right here? There’s lots of heat on the June 35 calls. Crazy Dendreon, JJ! Your original call was the best take on the stock. A lot of people hacked you for “missing it,” but you didn't miss anything. It was a dice toss. Sometimes it is better to be safe than sorry!
Cramer says: “MEE is a pure spec. I happen to like Peabody Energy and Arch Coal much more.” He won’t recommend a speculative stock if the fundamentals aren’t great either. As for Dendreon, Cramer was mortified. Cramer got pilloried in the press for his call on DNDN, but he ended up getting it right.
Dear Jim: You mentioned the insider buying in L-3 Communications near the recent high price. However, you failed to also note that three officers and one director sold 73,000 shares this week. Does this really sound like an endorsement of the company's future? --Greg
Cramer says: “At any given time people are going to sell … how about the fact that some very high-level people bought?” That’s more important, he says. “You only buy because you think it’s going higher; you sell for multiple reasons.”
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