Mad Mail: Is Kerkorian Shorting Oil?
Boo-yah Jim: I have quite a play in the works, but I need your help! Can you tell me what brand of tanning product [Countrywide CEO] Angelo Mozilo uses? By the looks of it, they must be selling enough product to him alone, to survive any possible recession. --Rick
Cramer says: Mozilo should have gone “down with the ship” on his sell program. “When you get involved with the government, they never let you go.”
Dear Cramer: Why are people throwing away Oceaneering International? I thought I got a good deal when I bought it at $75; I couldn't find anything negative in their earnings call. It sounded great – what am I missing? --Stu
Cramer says: The earnings call wasn’t all that great. The company admitted to problems in execution.
Dear Jim: I am in the house of pain over Lululemon. I LOVE Lululemon apparel myself, so I bought the stock thinking it would be popular in the U.S. and elsewhere in the future. Unfortunately, I bought at $50 a share, and it looks like I was way too late on this one. What’s my next move? Thanks, and love your show! --Ann
Cramer says: “I declared a win in LULU” after recommending it ahead of a 25-point gain. “I want nothing to do with it now. The money has been made.”
Mr. President (of Cramerica that is): Just as Carlo had to answer for Santino, you have to answer for UBS. The only reason I’ve held off on sending the obligatory horse’s head is because of the mad money I’ve already made on your previous picks - oh, and also because I love animals. Does UBS swim with the fishes next to Luca Brasi or do I need to be more patient? Jimmy, why do you hurt me? We're talking house of pain here. --David
Cramer says: Wait until UBS hits $45 to buy it again.
Dear Jim: Outside of my father and Chuck Yeager, you are my other hero. Does Kerkorian's position in Tesoro imply that he is effectively shorting the future price of oil - since Tesoro's future earnings would be based on the crack spread - which will only improve if oil comes way down? --Bruce
Cramer says: “That’s an ingenious way to think of it … there could be a play on the decline.” Kerkorian could also be building his position because of the scarcity of assets, according to Cramer.
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