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Mad Mail

Dear Jim: What's up with Altria? The price targets from the different research papers are all over the place. How do you figure a price target on a stock like MO with a possible spinoff? What is your price target? Aug. 29 is a meeting where many suspect the spin off of PMI will be announced. This seems like a lay-up trade. Why isn't MO ticking up here? --Todd

Cramer says: “First of all, we know there’s no such thing as a lay-up trade. Second of all, I own it for my charitable trust. If it spikes high in the $70s, I’m probably going to ring the register. I think everybody knows there’s good news coming. And when everybody knows there’s good news coming, it’s probably in the stock. I still believe that they are creating a lot of value. But I have to also tell you, this is stock that everybody already owns. It’s hard to imagine new institutions coming into it. I like it very much. I think it’s going to go up five points. But I don’t think it’s going to go to $80, $85.”

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Dear Jim: I like your style. The question that I have is for Melco PBL Entertainment. I have a very positive look at this stock. The rate of increase of their June, July and August profit is mind-boggling. I figure within 12 months, this stock could double easily…What do you think? --Shan

Cramer says: “I recommended this stock when it came public. It then went down a couple bucks. I lost a lot of money for people. I feel like this company has done a horrible job building its casinos. How you would ever think of owning anything other than Wynn Resorts or Las Vegas Sands when it comes to Macau is beyond me. This is the worst of breed.”

Dear Jim: I watched a recording of the Aug. 16 show and you whipped out a big wad of walking-around money. Was this a bit? If not, a high-profile guy like yourself with that much cash on hand is nice and all, but you are just asking for a bozo with nothing too lose to try to take it from you on the street. Just a thought and be safe. Thanks for the show. --Thomas

Cramer says: “It was one of the stupidest things I’ve ever done. I don’t know. It came to my head and I did it.”

Jim's charitable trust owns Altria.

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