In this Web Extra the traders explain how they're playing Seagate and FedEx on Wednesday.
Carter Worth, chief market technician at Oppenheimer Asset Management, joins Dylan for the Fast Money Final Call during Wednesday's "Closing Bell." He called for a rally all month and we've been in one -- despite today's 3% drop in the Dow. What trends does he see coming next?
There's one specific decision, Cramer believes, that President-elect Obama can make that would have immediate positive effects and "restore stability and credibility to our stock market" -- without costing a dime! It could even stop the "endless incredible pummeling of stocks." What's this miracle move, you ask? Simple: he should replace SEC Chairman Chris Cox.
This, as you know, has been Green Week at CNBC and we've been focusing a lot on alternative energy. Unfortunately, this movement has about-faced in just a few short months, owing to gas prices dropping and "hedge funds gone wild." Many are now more worried about keeping their jobs and retirement savings than about investing in wind farms, electric cars and cleaner fuels. Cramer's last look this week at a green company is Owens Corning, aka "the pink panther," in reference to its insulation business.
Cramer is just as frustrated as you are with this topsy-turvy market in which "stocks just fall and then keep falling." How long can the market keep dropping? Even with today's 494-point rally -- for which Cramer is thankful -- the week still ended down 5.3%. What gives? Cramer's explanation for this phenomenon: people need cash, and they need it now.
Cramer makes the call on viewers' favorite stocks, including CF Industries, Gentex, SunTrust and others.
In the last 'Stop Trading' segment of yet another dramatic week in U.S. and global markets, Cramer talks to Erin Burnett (together in the same room for the first time in quite a while). After trading some banter about her recent sojourn in Russia, they bring up Citigroup, Wal-Mart and several other stocks on Cramer's mind.
In a special edition 'Outrage of the Day,' Cramer has not one, but two gripes on his mind: one personal and one business, which is the one he decides to start with, since "we're not about making friends on this show, we're about making money."
As Cliff Mason noted earlier today, Cramer likes to talk about "pin action" a lot -- the effect that one company's good fortune usually has on other, related companies (parts manufacturers, for example). The key word, however, is "usually." In the disastrous market we have these days, you can't even depend on this pin action any more.
You could hear the screams on Wall Street (and perhaps a few sighs of relief that the bloodletting was over -- for today at least) when the Dow closed down 427 points -- to a level BELOW 8,000 for the first time in over five years. The market's in "critical condition," says Cramer, and likens it to a "hospital emergency room."