Cramer's Lightning Round - Chesapeake Has Peaked (12/1/08)

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Monday December 1.

Bullish Calls: ,

Genzyme (GENZ): "I can't believe how much this one got slammed today. This is one you buy into on the way down. I'm a buyer of Genzyme right here."
Goldman Sachs (GS): “Everyone's worried about their quarter. I think they lose $5 a share. But the stock is priced a lot lower. I'm a buyer after they report."
Anadarko Petroleum (APC): “I like Andarko Petroleum.”
United States Steel (X): "I think it's a travesty that this stock is down this much. I know steel is in a serious recession, so it might take 18 months, but I'm a buyer."

Bearish Calls:

Chesapeake Energy (CHK): "Start selling. This one has gone from one of the best to one of the worst natural gas companies.”
Emergent BioSolutions (EBS): "No, that's too speculative for this market. I only like the recession-resistant and accidental high yield stocks right here."
Oshkosh Truck (OSK): "No, that's way too aggressive. I'm sorry, I don't like that one."

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Comments

[captmike:]

What a tragedy for the poor schmucks who actually watch and follow Cramer, that is if they still can afford the cable television. Cramer is a weapon of mass wealth destruction for the unsophisticated investor. He's been cheer-leading CHK forever. He recommended in June “I'd buy 25 tomorrow, and then I'd buy 25 for every point down, using a wide scale. Aubrey McClennan runs CHK. It's terrific..” He recommended CHK all summer and fall, and last month recommended it as an Obama victory pick. Now sell, when it looks like the market has found a bottom? What an idiot!

2008 Dec 02 09:19 AM

[monk26:]

Cramer is just another clown on TV who only cares about one thing: RATINGS!!! I do recall him singing accolades to Aubrey and CHK on numerous occasions very recently. No fundamentals have changed, they still have plenty of cash, and the stock is cheap. So, Cramer, what gives? You told us to buy it at $70, was it a better bargin then or now at $15??? Boo-yaa from all the people that lost money from your foolish advice!

2008 Dec 02 09:51 AM

[Joyeb:]

CHK is a well managed company.Natural gas is a way to go to correct our balance of payments by restricting oil imports and utilising our plentiful gas reserves.We are heading towards cold season.The stock should rebound to $30 in a matter of tw0-three months...................

2008 Dec 02 10:24 AM

[User 283977:]

I wonder what Cramer thinks about ATN with respect to a Marcellus Shale play?

2008 Dec 02 11:16 AM

[Chuck Steak:]

Remember back in January when Cramer pegged 2008 as the year of natural gas? Whoops.

2008 Dec 02 05:20 PM

[Golfer Burger:]

It looks like the shorts are out on CHK. Look for a bounce here shortly. I wouldnt bet big in the short term.. It will come back Q2-Q3 of 09.

They have no where to go look for the stock to trade even or down around 11-12 and then bounce back to around 20 after the 20th of January when the real president takes over.

2008 Dec 02 05:35 PM

[Matthew J G...:]

Have to wonder if Cramer is chasing his tail sometimes. At $60-70 when Cheapeake was overvalued, Cramer was calling it best of breed BUY-BUY-BUY. We've shed 75% off that high, and NOW he's saying to sell it....ouch. The 50mil share dilution, cash flow, low gas prices, excess supply...its all priced into the stock.

IMO its time to start purchasing commodities and commodity stocks. I purchased CHK and RIO today and sold December calls just out of the money to hedge my position another 10-15%. I'll generate 25% within a couple months and long-term, the potential is huge. Sorry Cramer....you're about 6 months late buddy.

2008 Dec 02 06:34 PM

[capital pains:]

No matter how many atrocious calls Cramer makes, his "nation of sheep" tv audience will still drink his Kool Aid !
Cramer always loved CHK always touted the stock, now after CHK
gets bombed out, the clown changes his "mind" ! Too bad for the losers who adore this snake oil salesman and bought CHK on the clown's recommendations...

Cramer still has far to go to top his 2 most horendous calls: He loved BYD @ $ 65. He worshippped Eddie Lampert and the worst ever: SHLD - Cramer touted this dog at $165...Virtually every show he praised the genius of Lampert for combining 2 dogs: K-Mart and Sears and miraculously coming up with 1 gigantic dog; SHLD...Cramer should be muted permanently for this most horrendous pick..
Ah well, the pathetics who watch his show deserve their losses.
By the way: Ditto for the "Fast Money" slimeballs ..
If you need tax losses CNBC is the place to go ...

2008 Dec 02 08:19 PM

[AlexS:]

Correct. Chesapeake has peaked. Last July.

2008 Dec 04 01:23 PM

[nayarr:]

Cramer continues to prove that every body can make money when the market is bullish as he did at his hedge fund. Either that or he has lost the skills he did have then. Just boggles my mind that he continues to suggest stock trades. Anybody normal by now would have called it a day or been fired. CHK call to buy high and sell low, VCLK call to buy high and sell low......are just a couple of his idiotic calls. Maybe he should focus a show on all the mega-bad trades he suggested.

2008 Dec 06 01:15 AM

[Konsta:]

Glad I didn't listen to this hack. Sold at around 20 with a small loss. It peaked now, or when he was recommending it at 50$ a share? I think the latter. Nothing against Cramer, he is doing his thing entertaining idiots, but that is all it is entertainment, do not follow this clown. He is bullish and bearish on stocks when it's TOO late. He was right about the general decline in the market, but he was probably more lucky than anything else. And also because the us government messed up not bailing out Lehman and wiping out shareholders of other companies. Bottom line, he is too late with this call. My prediction, CHK will rebound strongly in the next few months, remember Obama wants to end dependence on foreign oil, gas is the intermediate solution

2008 Dec 06 02:20 AM

[PhinT:]

unbelieveable...Cramme... needs to go on his wall of shame along with the other clowns on CNBC...beyond disappoint

2008 Dec 07 09:58 AM