Putting Australia’s Mining Tax in Perspective

In Friday's Mad Mail, Colin wrote in wondering why, if Cramer was going to pan solar stocks, he’d include even JA Solar in the mix, a company without much exposure to a struggling Europe. Cramer responded saying that these companies would suffer with oil down at between $65 and $70 a barrel. As a result, they’ll need subsidization, and right now “the governments don’t have the money.”

Laura offered kudos to Cramer for clarifying Australia’s new mining tax for viewers during his interview with Woodside Petroleum CEO Don Voelte. “A lot of the big mining stocks roared today in part because of that interview,” Cramer said, “where the CEO said he did not think that tax was going to go through. And I thought he was excellent in saying they like to kick things around in Australia, but it doesn’t happen.”

Ray meanwhile asked if a 15% gain in Home Depot was good enough or if he should hold on. Cramer said he liked the stock still and told Ray, “You should be a buyer.”

Carol in Ohio wanted to know why Cramer told viewers to sell Freeport-McMoRan . In response, he said he would have been “less likely to say what I did” if he’d interviewed Woodside’s CEO before making his comments. Still, “I am convinced … that governments are going to try to tax mining companies.”

Kathy said she has “several good-paying dividend stocks” like Bristol-Myers Squibb , Linn Energy and Consolidated Edison , but she’s concerned about the market right now. So should she stay or should she go? Cramer said that investors have to know themselves, and because Kathy “clearly concerned” that she’s going to give up those gains, she needs to “take some off the table.” He recommended selling a quarter of her position and then waiting for the market to come down so she could buy them back at a better price.

Cramer's charitable trust owns Home Depot.

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