“Cramer explained that unlike the financials, tech didn’t need a bailout. Unlike the utilities, tech doesn’t pollute or emit carbon dioxide. Unlike health care, tech isn’t at the forefront of Obama’s agenda. In fact, said Cramer, tech is probably the only sector that’s completely devoid of Washington’s influence, and is largely international to boot,” Rutt reports. “Cramer said companies like Apple (AAPL), a stock which he now thinks could once again see $200 a share, will continue to prosper, as Obama is unlikely to enact an iPod tax.”
“In Thursday’s ‘Sell Block’ segment, Cramer said it’s time to take profits and sell Palm (PALM). He said there’s only one king of the smartphone market, and that’s Apple,” Rutt reports. “Cramer said when it comes to Apple versus Palm, you simply cannot compare the two companies. He said a few months ago that Palm’s stock was left for dead, and was only saved by its introduction of its ‘Pre’ smartphone. But now a month after the Pre’s release, criticism is mounting, and rumors abound about high return rates for the device.”
“With Palm stock up a staggering 360% for the year, Cramer said the trade is over in Palm. He said ever since the introduction of the Pre, Palm’s stock has been slipping, a trend that’s likely to continue,” Rutt reports. “Cramer said Apple is the only stock to consider in the smartphone arena. The iPhone, with its iTunes and hugely successful app store, make it the king of the castle, said Cramer. Palm, he said, has run its course.”
“Cramer spoke with Senator Ted Kaufman (D., Del) about his recently proposed changes on how short selling is done in this country… Kaufman believes the proposed short selling changes have a ‘good shot’ at ending the problems created by short selling, and was also a proponent of strengthening margin requirements and reinstating the uptick rule. Cramer said investors need to throw their support behind Kaufman, and support changing the system for the better.”
MacDailyNews Take: Bring back the Uptick Rule!
Full article here.
[Thanks to MacDailyNews Reader “Joe Architect” for the heads up.]
