Cramer's Lightning Round - Cleaning Up with American Ecology (1/6/09)

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Tuesday January 6.

Bullish Calls:

Wells Fargo (WFC): "This one has acted like a bow wow, but I've been buying it. They've got a huge mortgage portfolio and I'm banking with Wells Fargo."
American Ecology (ECOL): "I would buy some here and I'd buy more if it comes down. This is a great hazardous waste disposal company.”
Copart (CPRT): "This is another company that's made its quarter and is doing well. I want to be a buyer of Copart."
Hartford Financial Services (HIG): “Hartford is a keeper.”
Travelers Companies (TRV): "I've been doing a lot of work on these companies, and I favor Travelers Companies.”

Bearish Calls:

Goodyear Tire & Rubber (GT): “That one needs oil to go down and autos to go up and that's too hard for this market."
ISIS Pharmaceuticals (ISIS): "Isis is an interesting speculation. I would not be a buyer of Isis at this level."

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Comments

[User 283977:]

I bank with WFC too… However, it seems clear this is NOT a good time to buy into financials. Where does he think its going? Its slightly below its closest support level ($30). The next highest support level is 35, and that was where it was for most of 2007. This is a sideways moving stock, and its been a sideways moving stock for many years. What makes it a great buy at this particular point in time?

Jan 07 12:47 PM

[User 283977:]

As I thought, its four business days later and the stock has dropped from $29.50 to $23.80. That's a loss of about one-fifth in four business days from Cramer's buy recommendation. This is a bad time to be considering financials as an investment (January 2009).

I also wonder about the safety of that 5.7% dividend ... I suspect a dividend cut re-establishing the stocks historical dividend yield of 4.3%. A dividend yield that bankers are more inclined to approve.

Jan 12 06:33 PM

[viking2boot:]

I wouldn't take Cramers word on anything. In the past 2years I have lost money on every one of his picks that I bought
Had I kept going with my picks, instead of selling to get his picks, I would still be making money.
What a loser Cramer is.

Jan 14 05:42 PM