Cramer's Take on Top 10 Most Searched Stocks from 8-5-08
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Date updated:08-05-2008

This portfolio gives Jim Cramer’s recent take on the Top 10 Most Searched Stocks on TheStreet.com from the prior trading day.

symbol name last price % change open
  • +
  • FCX
    Freeport Mcmoran
  • $82.57
  • -0.76%
  • $82.49

"Does it even matter to the sellers that Freeport-McMoRan (FCX) has lost 25% of its value in a week? Does it matter? Is the chart more important, say, than the earnings power? Than the possibility that the company could make a lot of money? Do the sellers at this point even care? Are they so motivated to get into Procter & Gamble (PG) and JPMorgan Chase (JPM) that there is no price they wouldn't sell at? I am aghast at this price decline, all based, of course, on the endless cliche of demand destruction. But does it make sense, in a world where copper production is declining faster than oil worldwide, that this company loses a quarter of its value overnight? Did someone expropriate its mine? Did it preannounce a terrible quarter just now, and no one told me? Is it a bank stock with lots of home-equity loans? Is there a price where it represents some value? Was FCX just one big short squeeze? I have to wonder about this incredible decline, because the company now sells at 7 times next year's earnings and, no doubt, judging by the sellers, is going to 6 times in a hurry. It is certainly possible that the earnings estimates are too high, given a worldwide recession, but 30% of the world's copper goes to China, and unless you think that China is going into a recession, it is hard to fathom the 25% decline in a week's time. In fact, it is more likely that the owners were looking at the chart, and the chart says top, and that's enough for them. Maybe that's enough. Doesn't matter that Chile is producing less. Doesn't matter that the African copper mines are producing less. All that matters is that chart. And the chart says lower. In this nutty market, maybe that's all you need to know."

People owning FCX also tend to own: AAPLBLE.TOCHINACTRPELR.TOEMUFMCN

TheStreet.com Rating: D What is this?

  • +
  • KEY
    Keycorp
  • $5.69
  • -2.57%
  • $5.72

From a recent Mad Money show: "Key is a bad bank. I don't want to own it. They don't deserve to be owned."

People owning KEY also tend to own: AUYBPCSELMTLUNAPEGPWE

TheStreet.com Rating: D What is this?

  • +
  • APA
    Apache Cp
  • $100.54
  • -0.28%
  • $100.61

From a recent Mad Money show: "I like Apache. Natural gas is different from the oil companies. This company is growing. I want you to own it."

People owning APA also tend to own: BGCBHPCBIIPSSSRIAAPLAUY

TheStreet.com Rating: C+ What is this?

  • +
  • GHM
    Graham Cp
  • $16.92
  • 0.00%
  • $N/A

From a recent Mad Money show: "This is a classic new-tech company. I think you need to stay with this one."

People owning GHM also tend to own: ASGNCSIQAETIASYSCIMTENPTHMNA

TheStreet.com Rating: C What is this?

  • +
  • ETR
    Entergy Cp
  • $77.53
  • -0.06%
  • $77.20

From a recent Mad Money show: "Cheap power producer. I like it. It's a cheap energy provider. It's got nuclear. I like Exelon (EXC) and Consolidated Edison (ED) more though."

People owning ETR also tend to own: BABDCBTJCLBEVEPGNBTGS

TheStreet.com Rating: B What is this?

  • +
  • HHS
    Harte Hanks Inc
  • $10.54
  • -2.68%
  • $10.73

From a recent Mad Money show: "No, this is direct marketing and that's a tough business. I don't want to be in that market."

People owning HHS also tend to own: SIISPNGEFMSMNATINRPNTRI

TheStreet.com Rating: C What is this?

  • +
  • JNJ
    Johnson And Johns
  • $61.23
  • +0.79%
  • $60.74

From a recent Mad Money show: "You picked the right stock. JNJ is a great pick. You've got a good one and I want you to stick with it."

People owning JNJ also tend to own: AAAIGIBMINTCJPMKOMSFT

TheStreet.com Rating: B What is this?

  • +
  • PDE
    Pride Intl Inc
  • $32.16
  • +0.37%
  • $31.71

From a recent Mad Money show: "There is so much drilling going on; I want to own a contract driller. We will see some pain now, but the gains will be coming."

People owning PDE also tend to own: BMRNBVXCHTRCOGOCRESYCROXCWTR

TheStreet.com Rating: B- What is this?

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