Mad Mail: Should I Buy Seagate?
Dear Jim: A UVA wahoowa big-time booyah. Great show; don't ever change! Overall, I'm sick and tired of all of the doomsayers in the market now. I don't see us going too far below the intraday 11,660 level on the Dow. Most of the short/put plays are no longer viable now. So, my main pick, which I played two days ago, is Seagate Technology. It has great fundamentals and the recent analyst moves upgrading the stock in its industry were great, too. But what does the Cramer Guru think? --Ken in Virginia
Cramer says: “Look, I don’t like tech. Tech’s a good trade. IBM has an analyst meeting tomorrow. Maybe Seagate goes up a little [as a result]. If it goes up $1, then take profits. I don’t like tech here. It’s the wrong part of the season to like tech. When March begins, tech tends to disappoint.”
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