Dear Jim: Loved your show on ConocoPhillips last week, but what happened to it on Monday, July 16th? Was it a matter of profit taking? Is it safe to assume when oil prices rise, so do the oil stocks? I was confused by such a big drop in one day. What happened? --Jason
Cramer says: “People are always shocked when stocks pull back. On the pullback you buy the stock. Conoco is really cheap. I hope it goes to $80 so I can buy some for my charitable trust.”
Dear Jim: A big Chesapeake Bay BOO-YAH to yah! What is the word on Spartan Motors ? With Force Protection losing out on a bid, SPAR took a big sympathy hit. Do they still look good going into earnings on the 26th or will this send them to $14 before $19? Fundamentals and history don't seem to have changed, just short-term news. Hope never makes money. Am I hoping here? --Phil
Cramer says: “You are hoping here. This was a great trade [but it’s a little] long in the tooth now.”
Cramer says: “We have gone into some sort of subtle bear market in all of these life science companies … the group just doesn’t have it.”
Dear Jim: You rock! Speaking of rocks, what's the deal with Volcano falling like one? I feel like I should have taken some shares off the table at 21, but now that is has fallen below 19, is this a good time to strengthen a position or to close out? --William
Cramer says: “This again is part of the vicious pullback in these life science stocks and the equipment life science stocks.” You can buy it here but it probably won’t move until the fall – until then he recommends you stick with tech and his five bull markets.
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