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Market Wrap: Earthquake in China Sends Stocks Lower

But yuan strengthens on account of higher bank reserve ratio….
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12 May, 2008| Economy | Comments (0) @ 19:00

Cramer recommended shares of Colfax (CFX), a play on fluid management that recently came public on May 8. Coflax makes makes pumps and transfers liquids for sectors like oil, paper, chemical and shipping. “Think of it as the lubricant that keeps so many markets running smoothly,” Cramer said.
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12 May, 2008| Economy | Comments (0) @ 18:54

RIMM and the Toronto Stock Exchange

Granted, it’s nowhere near the absurdity of Nortel, which almost a decade ago was briefly more than 30% of the Toronto Stock Exchange’s market capitalization, but RIMM stock is up to fun stuff. It’s newly knocking up against 4% of the TSE by capitalization. …
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12 May, 2008| Economy | Comments (0) @ 18:52

Cramer Likes Wind Power Play Owens Corning

Cramer thinks that 2009 will be the year of wind power and he picked Owens Corning (OC) for a play on the trend. Owens manufactures a fiber-glass composite fabric that is used in big wind turbines, which makes up for 30% of its sales. The company sold $150 million worth of the product to the wind market last year and the CEO thinks the segment will keep growing. Cramer also likes Owen’s glass fiber insulation business, which is a green play that makes buildings more energy efficient. The company also has strong overseas exposure of 40% compared with only 12% in 2006. Cramer did caution investors that over 40% of Owen’s earnings come from the US housing market, but feels the bad news is from this sector is already priced into the shares. “This stock is a winner even if U.S. housing stays in the dumps,” he said.
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12 May, 2008| Economy | Comments (0) @ 18:28

Jim Cramer’s Mad Mail

A viewer writes, “I have read and heard several observations that shipping is having a problem because of a shortage of containers. Is there a play here?” For plays on shipping, Cramer said he likes Frontline (FRO) and Nordic American (NAT). Another viewer writes, “My husband gave me $50,000 to invest for my 50th birthday. He told me I could go anywhere in the world for my birthday, but I would rather have an investment party with you and 10 girlfriends. Do you do “investment/Botox” parties with ladies looking to learn about the market? Should I invest in Allergan (AGN)?” Cramer said he likes Allergan at $52. Finally, Cramer told a viewer that he would rather own a Harley Davidson (HOG) bike than the stock.
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12 May, 2008| Economy | Comments (0) @ 18:18

Fast Money Recap

Word On The StreetWORD ON THE STREET VIDEODollar TradeThe dollar is starting to show some strength and the traders discussed some possible trades for the a strong greenback. Adami said one way to play the dollar’s strength is to short gold. Seymour said the European Central Bank is turning dovish and the fed funds futures are predicting that the Federal Reserve will cut rates into the year end. He said market players can short the C…
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12 May, 2008| Economy | Comments (0) @ 18:08

Deep Market Thoughts - Global Markets not Cinderella Like…More Like ‘Beauties and the Beasts!’

Can’t fight price action and Fedex opened on the lows and closed up on their warning. That’s pretty bullish for today. A break below today’s lows on fedex would be a small ‘Tell’ of future weakness.Combined with the new Crackberry and you had a great day. I even bought a little RIMM as a Twitted this morning.
If you can’t get excited about famine the financial shennanigans of the global banks as well as the Apple, Google, RIMM mobile war than adjust your Prozac levels. We live in exciting financial and technology times and the global markets are serving up meaty opportunities. Yes, I am short Dell and a few ETF’s (some stupidly and some deservedly), my long side keeps growing because price isa dictating the new positions. Today it was RIMM and BABY.
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12 May, 2008| Economy | Comments (0) @ 17:59

Fast Money Recap

Chartology - Commodity TradeThe traders spoke with technical analyst John Roque of Natexis Bleichroeder to see what he thought were good trades for falling oil prices. Roque said he doesn’t think the trade will be to buy early cycle stocks. He thinks the play is to buy leadership groups like commodities. His first pick was DryShips (DRYS). Roque said the trend in the stock suggest to him it’s going to $124. Adami also likes DRYS. Macke said let it come down before getting in. Roque said El Paso (EP) could go to $24. Finally, he picked Oceaneering International (OII). He said the sotck is breaking out and could hit $86. Najarian said another play is Genco (GNK) for the shipping sector.R…
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12 May, 2008| Economy | Comments (0) @ 17:37

Jim Cramer ’s Lightning Round

BullishDiversified Machinery (CKH), Gerdau S.A (GGB), Millicom International Cellular (MICC) and Canadian Natural Resources (CNQ).BearishBlockbuster (BBI), Intuitive Surgical (ISRG), GeoEye (GEOY), Clearwire (CLWR) and Circuit City (CC).
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12 May, 2008| Economy | Comments (0) @ 17:18

Fast Money Recap

POPS&DROPSPOPS- Alcoa (AA) popped 7% after Citigroup raised its aluminum price forecast and Morgan Stanley bumped its price target for AA to $47 from $41. Adami said he likes AA. Blockbuster (BBI) traded up 5% after Citigroup said shares of BBI could trade up to $8 to $11 if it buys Circuit City (CC). Macke said he likes CC but only for a play on CNBC’s stock trading contest. Valero (VLO) jumped 6% after the company said it would sell four refineries. Seymour said that any fall in oil prices helps this company. John Deere (DE ) popped 4% ahead of the company’s earnings report set for Wednesday. Adami said this stock could hit $100. Collective Brands (PSS) surged 17% after the company said it would fight a $300 million verdict for patent violations brought against it by Adidas. Macke said this isn’t a reason to buy the stock. Holly Corp. (HOC) popped 8% after the company beat Wall Street earnings estimates. Najarian said this stock needs lower oil prices to work. Fortress (FIG) jumped 9%. Ann Taylor (ANN) soared 16% after the company said it will close 117 stores. Macke said he doesn’t see a trade here. Cogent (COGT) traded up 12% after the fingerprint identification firm said full-year profits and sales beat expectations. Najarian said good job for COGT. E-House (EJ) popped 5% on no news. Seymour said EJ is one of the few Chinese companies that’s growing earnings, but I wouldn’t say it’s a buy.Drops- Clearwire (CLWR) dropped 10% after IPCS sued the company for a violation of a non-compete agreement with Sprint (S), surrounding the Sprint/Clearwire WiMax deal. Najarian said the company can’t do anything right. Vimpel-Communications (VIP) fell 3%. A metals tycoon is set to become Russia’s new Telecom Minister. Seymour said he’s bullish on VIP.China Earthquake TradeA major earthquake hit China today, killing over 8,500 people and leaving scores of others injured. Seymour said the quake could presents problem with inflation and preparation for the Beijing Olympics. He told investors to play the Internet stocks like Baidu.com (BIDU), Sohu.com (SOHU) and Giant Interactive (GA).Trader RadarShares of Ann Taylor (ANN) were among the most actively traded stocks on the NYSE Monday.Final TradeMacke likes Wal-Mart (WMT). Adami picked Cisco Systems (CSCO). Seymour recommended Turkcell (TKC). Najarian said buy Applied Materials (AMAT).
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12 May, 2008| Economy | Comments (0) @ 17:10

Ben Bernanke, Improvisor

This is a must read piece int he upcoming June 2008 Bloomberg Markets Magazine: The Improviser Ben Bernanke, the consensus-building academic who toiled in Alan
Greenspan’s shadow, is emerging as the most powerful–and
inventive–Federal Reserve chairman in the 95-year history of the
central bank. Paul Volcker says he’s overreaching . . .
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12 May, 2008| Economy | Comments (0) @ 17:03

Venezuela: Industrial Production

Private manufacturing output rebounded in February after very poor performances in the previous five months. The central bank?s private manufacturing output index (by volume) increased 12.2% y/y in February, the strongest pace since July last year. Nevertheless, manufacturing output growth continues to lag well behind domestic consumption growth….
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