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Cramer says: “…There’s so much stuff that I want to stop. And if they call me, I know all the tricks that [Wall Street traders] pull. And I’m going to end them. And I’m going to make the market fair again for people. Because everybody knows this market feels like it’s rigged everyday.”
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Jim: I had placed a limit order on Freeport-McMoran [FCX
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] if it hits $18. Since FCX announced today that they are suspending their dividend, the limit order clicked in. I'm wondering if I should cut my losses and get out, or if getting this company at $18 is a good price. Please explain. --Joe
Cramer says: “I bought some today for … my charitable trust at $17. I literally waited about 80 points. It is the world’s largest copper mine. They are cutting back production. That should eventually move copper prices back up. And China will eventually come back online.”
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Jim: Now that Jerry Yang is on his way out, is it time to start buying Yahoo! [YHOO
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]? --Ken
Cramer says: “I think that Yahoo! has a lot of pageviews. And anything that has that much pageviews, if you came in now, I think you could do a great job with. Jerry Yang was really bad.”
Jim's charitable trust owns Freeport-McMoRan.
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