Jim Cramer's Stop Trading! Stock Picks and Comments, March 19
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Freeport McMoran (FCX):Cramer would buy FCX "hand over fist" and thinks an analyst estimate of $80 from $62 was too conservative, since its acquisition of Phelps Dodge was a "smart combination." Because of demand from China, Cramer predicts copper will rise dramatically. He also sees a "big upturn" for nickel and zinc.
Newcastle (NCT) and Wells Fargo & Co. (WFC): On reports NCT is buying a $1.7 billion residential mortgage porfolio from an unmentioned seller, Cramer comments "these guys are being very shrewd" and says it is a sign not to give into the "torch your home" mentality in the wake of the subprime lending crisis. He would also take WFC at $25, and notes only 30% to 40% of loans are in trouble. "They are choosing not to listen to us and, because they're not listening to us, they are making money!" Cramer said.
General Maritime (GMR): This stock is Cramer's lone pick in the shipbuilding sector and he believes CEO Peter Georgiopoulos is "going to deliver the numbers," and GMR is a company that "has its shareholders in mind."
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