Cloud

As usual, the easiest way to make it back is to get on the horses that are leaders. What I did with 59 days left is figure out which companies were going to have the best quarters (e.g., Apple (AAPL), Google (GOOG), JPMorgan Chase (JPM), Goldman Sachs (GS), Salesforce.com (CRM)) and which ones had already had the great quarters (e.g., Nike (NKE) and General Mills (GIS)), and I would buy gigantic positions in deep-in-the-money calls dated January. That way, I had the exposure I needed.

The kinds of companies Sacconaghi can see Dell buying follow: Salesforce.com (CRM), Compellent Tech (CML) and CommVault (CVLT).

growth opportunity

The beneficiaries of the spending? Bellini likes Microsoft (MSFT), Salesforce.com (CRM) and WMware (VMW).

Microsoft? No thanks. Why not own the better operating system of Apple or the secular growth of Salesforce.com (CRM), which will explode if spending comes back, or Oracle (ORCL), which will integrate Sun (JAVA) well?

Salesforce.com (CRM) seems to be breaking out of its doldrums.

For example, he said, a lot of tech companies are reporting better-than-expected earnings. The three software names he follows are Microsoft(MSFT), Oracle(ORCL) and Salesforce.com(CRM).

Looking to buy, Cramer fave, unique model.

Cramer expanded the good "bank" list to include Verizon (VZ), Salesforce.com (CRM), McDonald's (MCD) General Mills (GIS), and Bristol-Myers Squibb (BMY). He owns the latter two in his Action Alerts PLUS portfolio.

multiple too high

selloff to continue

Again, great business but valuation is way too high

From Barron's 6-25-07:

"Salesforce.com shares look pricey after rising threefold in three years. And now that the small company is competing with behemoth Oracle, taking profits is sensible...not to mention the CEO has unloaded about 38% of his shares in the past two years."

Not everyone loves it. These folks are definitely spending some money. Growth play. True believers only.

OVERVALUED

Overvalued!!