drbob66

Cramer's Mad Money - Caterpillar the Infrastructure Survivor (1/29/09)

JEC is a quality company...they've been quite consistent in their earnings growth over the years. That said, it MIGHT be a buy at current levels ($38), but who knows? What will be the trough P/E for 2009? I have no idea. I was a buyer during the frantic deleveraging that occurred during Oct/Nov...bought JEC all the way from 60 to 30. But when it got back to the 50's, I regretfully had to sell most of my position, since gains tend to disappear very quickly in this environment. I'll be watching the price action over the next few weeks, but probably won't consider pulling the trigger unless it gets below 36...and definitely if it retests its 52-week low. This market is still highly unpredictable.