Jim: About a week or so ago, you suggested that the Dow was going to go back down to 9,400. I have not seen you mention this again, and you now seem bullish about the market. Have you changed your opinion? Thanks for any information. Go Phillies! --Joe in Philadelphia
Cramer says: “I have been saying that you could get at 3% to 5% pullback at any time, but that you want to buy the pullback … we’ve had a couple of those pullbacks ... what I’ve consistently tried to say is we’re not going to have the big, cataclysmic sell-off, don’t wait for the pullback. I have just been saying, be in, and if you get a pullback buy a little more.”
- 15 Rules for Playing Defense
Hey Cramer: The Dow broke 10,000 for the first time this year, yet Consolidated Edison and AT&T both had declines on the same day. Why? They are both solid companies with good yields. Help me out here. Here's to getting even. --Steve
Cramer says: “A lot of the belief of why the market is doing better has to do with the fact the economy’s improving. And therefore, people feel that interest rates have to go up. And both AT&T and Con Ed are about having lower interest rates, not higher, because they’re utilities.”
I hope your book tour and new book sales are a success! I'll be picking up my copy this weekend. Thanks for the reminder of NICE Systems, as a fan of espionage this one looks so much more exciting than Proctor & Gamble . It's amazing that you can still look so good even in neon yellow polyethylene terephthalate. Pink-ah! Boo-yah! --Lisa in Maryland
Cramer says: “A portfolio should have everything. So let’s not go too nuts with NICE. Have some Procters that have good dividend policies [that] over the long term have been good.”
Jim:Great piece on the Marcellus Shale and the benefits of horizontal drilling. It seems the supply available to us in this region resulting from this drilling technique would overwhelm demand in the near term and thereby drive down the cost of natural gas. That’s great for consumers, but seemingly bad for investors. How would this affect investors deeply tied to natural gas? --Kevin in Oregon
Cramer says: “The idea is that there is such a surfet of supply that the government would then be able to see that and start making everybody use the fuel, which would then put it in equilibrium, which we believe [on] Mad Money is $5 to $7. But right now coal is defeating natural gas every day of the week.”
Cramer's charitable trust owns Procter & Gamble.
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