Professor Cramer: Your passion has inspired me to “stay in the game” in this volatile and ever-confusing market. I read that the Transocean -GlobalSantaFe deal hinges upon a $15 billion leveraged recapitalization backed by a bridge loan. Can you please provide some insight on the nature of a bridge loan, and also, the potential for this deal to fall apart in a tightening credit market? --Doug
Cramer says: “These are the two most credit-worthy companies out there in the oil services business other than Schlumberger, and I’m not worried about them getting any financing because they have a huge book of business.” RIG is up about 30 points, so investors want to take a bit off the table, Cramer would bless that.
Dear Jim: Like many investors we took a lot of hits yesterday, but I found a great diversion from all the carnage by listening to the Omniture conference call yesterday evening and kept checking the performance that I enjoyed with my position in it. I slept well knowing that there is always a bull market someplace, and yesterday it was OMTR. --Chris
Cramer says: “You just picked up a quick four. I hope you took something off the table. The continual theme – taking something off the table with the wins because you see now how quickly they can take the wins away.”
Dear Jim: After the down 311 day yesterday, you said in your intro segment that there was a lot of selling and "a lot of agony for the good guys." Why are bulls always considered the "good guys" and bears are so hated? I had a great day today, and as you know, there is good money that can be made if you're positioned properly. Please lighten up on the bear bashing...the market needed a rest to eliminate some of the irrational exuberance. --Kathy
Cramer says: Cramer did plenty of short-selling as a hedge fund manager, but most Home gamers own stocks on the long side and he wouldn’t want to do anything to hurt them. “It’s just not right. It’s not the way I play it.”
Jim’s charitable trust owns Transocean.
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