Cramer's Stop Trading! Ode to Joy Global (12/17/08)

Stocks discussed in the in-depth session of Jim Cramer’s Stop Trading! TV program, Wednesday December 17.

Ode to Joy Global (JOYG)

Cramer once again recommended Joy Global on Obama’s proposed infrastructure stimulus plan and the reflation trend evidenced by positive moves in minerals and the Baltic Freight Index. While the stock moved 14% on Wednesday, Cramer still likes it; “There are a lot of reasons to think that Joy Global is going to do OK – not great,” Cramer said, “but not nearly as badly as the bears think.”

Joy Global CEO and President Michael Sutherlin had discussed on an earlier interview the difficulties of coordinating businesses, which know how to allocate capital and the government, which has the money. Cramer thinks the connection between business and government might be stronger in an Obama Administration, but added he would like to see more private sector involvement in rescuing the economy.

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Comments

[herbert hoover:]

That's our Cramer - only down 11 percent today. He's the Bernie Madoff for the common man

2008 Dec 18 06:48 PM