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February 9, 2010
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| 21:39 EDT |  | CLB |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Investors finally caught a break on the upside, said Jim Cramer. Cramer identified four keys to the market's rebound: (1) U.S. markets are deeply tied to the European markets -- the markets surged on the possibility of a bailout for Greece. (2) The markets love a weak U.S. dollar. Money managers know that a weak dollar allows multinational companies like Coca-Cola (KO) to make money overseas and convert it into tons of greenbacks. (3) The markets want to see oil head higher. High oil prices mean the worldwide economy is growing, something the markets love to hear. Finally, (4) Copper allowed the markets to rally. Copper, like oil, is a gauge on the growth of China and the rest of the world. Cramer said all of these catalysts are evidence of how companies here in the U.S. are actually doing or how much they're actually earning. OFF THE CHARTS: Cramer and colleague L.A. Little went over the chart of the Oil Services Holder (OIH) ETF, affectionally known on Wall Street as the OIH. According to Little, the sellers have taken control of the OIH and won't stop their assault until it hits $103 a share, a $15 dive from current levels. Making matters worse are signs that large traders are shorting the OIH on its way down, thus hastening its move. Little noted that if the OIH holds its $103 level, he may turn positive on the OIH, but if not, the fund could fall to as low as $85 a share. Turning to the fundamentals, Cramer said there's not much to save the oil services stocks at the moment, and he'd simply get out of the sellers' way and sell the OIH if he owned it. He said a better play the group would be to own the best company in the OIH, and that's Schlumberger (SLB). He noted that Schlumberger is 10 points off its high, just reported a great quarter and has lots of business still to be done in Iraq. DIVIDEND PLAY: Cramer recommended Core Labs (CLB) as the next in his series of dividend boosting stocks worth owning. The company derives 80% of its sales from crude oil services and the remaining 20% from natural gas. Cramer said investors should think of Core Labs as a technology company that plays in the oil sector. While Core Labs currently only yields 0.3%, Cramer said what's impressive is that the company boosted its dividend 20% last month from 10c a share to 12c. The company also has a long history of paying out special dividends. Cramer said he would not chase Core Labs ahead of its quarterly results on Thursday, but would wait and listen to the conference call before buying into what he called a solid performer. Next, Cramer said with private label brands en vogue, investors need to invest accordingly, which means selling name manufacturers like Diageo (DEO) and Brown Forman (BF-B). Cramer said the smarter money will be in private label manufacturers, companies like Treehouse Foods (THS), Ralcorp (RAH) and American Italian Pasta (AIPC). LIGHTNING ROUND: (Bullish) ACOR; RMBS; NVDA; CY; VMI. (Bearish) NAK; SYNA; DOLE. Reference Link :theflyonthewall.com |
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