Jim Cramer's Stop Trading! 10/22/07: Rio's for Real

Recap of Jim Cramer’s comments on Stop Trading! Monday October 22. Click on a stock ticker for more analysis:

Chevron (CVX): Cramer said the recent rally was only a “dead cat bounce” for the financials and would sell stock in that sector and buy oil stocks, such as Chevron and minerals.

Rio Tinto (RTP) and BHP Billiton (BHP), CVRD (RIO), Freeport McMoRan (FCX): Cramer was critical of Citigroup’s downgrade of RTP and BHP. He expressed his bullishness on both stocks and included RIO and FCX which he says is not a falling knife but a stopping knife.

KHD Humboldt (KHD) and AECom (ACM): Cramer notes ACM is down and says it is a buy. He also likes KHD.

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Comments

[skeptical]

Last week Cramer was saying Prince was gone & C was going up 3+ points. Did he forget ?
What is his track record in Action Owner's Trust ?
Bet he did not put his # 1 pick LVLT in trust !

[misterchan]

I have been trading in the stockmarket for more than 25 years. I know a lot of smart people, but I do not know one person who has never made a mistake. Do you?

[Annie]

Who cares? What I can stand is somebody, like Cramer, who projects themselves as never being wrong.

[misterchan]

Annie, you just said that you CAN stand somebody like Cramer.It looks like you can be wrong sometimes, just like all of us. Maybe it might be a good idea to proofread the next thing you write. Many times I have heard Cramer say that he was wrong. But I HAVE COME TO THE CONCLUSION THAT HIS INTENTIONS ARE GOOD.

[Woodrebel]

misterchan you said it. In fact tonight he talked about his mistake recomending ALGN, saying it was his worst mistake of the year. But he is always out there trying to find good stocks and trying to get people thinking about investing and learning how do it.

[User 117792]

Cramer? Investing? Hardly. If you need to be taught the difference between investing and trading you shouldn't be responsible for managing your own money. Cramer is not about investing, which is fine provided you understand this difference. Good intentions, Mr. Chan. That's wonderful. Perhaps you should start a fund called Good Intentions Capital Management. After all, that's all anyone is truly interested in. Pensions and endowments that lost millions in Sowood Capital and various MBS vehicles were quick to forgive once they were told the managers had 'good intentions'.