Jim Cramer's Wall Street Confidential, 10/4/07: WYNN No Longer Winning

Recap of Jim Cramer’s comments on Wall Street Confidential, Thursday, October 4. Click on a stock ticker for more analysis:

WYNN No Longer Winning: Wynn Resorts (WYNN), Research in Motion (RIMM)

The Macau gambling story seems to be over, since Morgan Stanley released information that Macau isn't growing at the rate analysts expected. While Cramer liked WYNN from $80 to 167, he would take profits in the stock now, especially since WYNN declined 12 points on the Morgan Stanley report. To those who claim that Cramer is departing from his "methodology" in his decision to sell WYNN, he replies, "There are people who say my methodology is to buy down 1% to 2%. I have no methodology. That's all made up. Whoever thinks that they've crafted my methodology is dead wrong."

"If Wynn's fundamentals had gotten better and it was down 12 points and it hadn't done a secondary, it's a different story," he continued. "But the stock has gone up big, it's priced for perfection and when perfection doesn't develop, you should be concerned."

While Cramer expects a "picture perfect" report from RIMM on Friday, he says the stock may still be a sell; "The stock is up enough and it may be a great excuse to sell," he said. "There is a tremendous disconnect between stocks and fundamentals. The fact is that RIM has doubled. I'm urging people to disassociate the stock price from the fundamentals because a lot of times the fundamentals are already baked into the stock price."

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