Cramer's Lightning Round - Citigroup is a Buy (So Shoot Me) (8/5/09)

Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Wednesday August 5.

Bullish Calls

First Energy (FE), Dominion (D), Exelon (EXC): "I've got to tell you...First energy is a well-run company with a good yield. It's not as good as Dominion, or if you want growth, EXC. Those are my favorites."

Citigroup (C): "Every day I come in and want to recommend that stock...every day it goes up by a penny. Why shouldn't this stock go to four? I am struggling but I will bless anyone who decides to buy Citi...WOW..C's a buy...I said it... so shoot me...multiple times."

Smith Micro Software (SMSI): "Part of the mobile internet tsunami even though it is only a dollar off its high. I am a buyer on any weakness."

Meridian BioScience (VIVO): "You get a booyah because it is diagnostics and we are pro-diagnostics and so is President Obama. You've got horsesense."

Agnico Eagle Mines (AEM): "You know I love Agnico Eagle...that is your play."

Bearish Calls:

Newmont Mining (NEM)

First Niagara Financial (FNFG): "It is a preferred bank, has a lot of cash and is incredibly well run...I will buy up to $16."

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Comments

[Voice of co...:]

I was seriously considering speculating on a few shares of Shitigroup.

If the idiot kramer likes it, then I will short it.

Aug 06 05:58 PM

[AndrewBaker:]

Thing is: in the past five months the money has been made by the bulls who've totally ignored the numbers, taken no notice of the fundamentals (or lack of them), and those that have been on here have, though with difficulty and with crayon in many cases, posted comments like "Buy, buy, buy!!!" Their minders are now rolling in their money, and laughing out loud.

I have been thoughful, looked behind and beyond the hype and, except for a few safe longs such as gold, VM Ware and ATPG (though that's been up and down, and tradable), have tried my hand at shorts and been burned.

So, it's long financials and S&P now, with one eye on the board at all times! So, maybe Citi's not such a bad buy; short term anyway: it is up 9% at this point today. How long do you wanna hold it?

Aug 07 12:31 PM

[tmosley:]

It seems to me that money is being printed by the Fed, funneled into the banks, who have then placed it in the stock market. I haven't seen such inflationary moves since I traded some pocket lint for a hundred billion Zimbabwe dollar note (I now regret that transaction).

These stocks aren't going up due to fundamentals, nor are they going up due to investor demand. They are going up because that is where the Fed is funneling the funny money they've been printing for the last five months.

www.marketoracle.co.uk...

Your profits from buying C are going to be entirely dependent on the continued use of the printing press, and on the assumption the the banks that are the benefactors of that funny money will keep their "investments" in the market.

I wouldn't touch the US stock market with a ten foot pole right now, with the possible exception of US mining stocks.

Aug 07 04:36 PM

[Ricard:]

I think someone has hijacked this one specific page on SA. This is the second time I've accessed this article on two different computers that re-routed me to this website:

personalfoldertest.com...

I don't think it's a real virus threat, but it is certainly not proper for this website.

Aug 09 02:16 AM