Friday, September 17, 2010

Hedge Fund Managers Set Up for Second Acts -

Hedge Fund Managers Set Up for Second Acts - "The new fund, Mr. Gendell said in a letter to investors, would invest only in easy-to-trade securities and would not use leverage, or borrowed money, to improve its returns. Mr. Gendell vowed he would not collect performance fees until investors had recouped their previous losses. A spokesman said Mr. Gendell declined to comment."

Thursday, September 16, 2010

Cramer Last Night

[Beginning of Cramer's verbatim comments for this segment...]

Jim: Today may have been one of the most important days in ages.... although the averages only seemed to take notice at the end of the day when the Dow rallied to close up 46 points, the S&P rose 0.4%. Why was today so significant... at least to this guy? Because of the 52-week high list... or more specifically because of the huge number of sectors that are now represented in that incredibly difficult to tamper with, impossible to rig winners club.

Do you know that today I counted stocks in 25 separate industry groups elected to the new high list by you... the buyer of voters.... and when so many stocks with such a diverse swath of the market are breaking out... and hitting 52-week highs... that's just well, look... let's not mince words, it is fabulously bullish.... and it would have been bullish no matter what, even if the averages had flat-bottomed.

This plethora of groups is nothing short of astonishing when you consider less than a month ago we only had three sectors represented on the list and none of them reflected on the market in a positive way.... do you remember when it did that... I don't know if guys were close watchers... there were some utilities on the list... this was in the middle of August.... signaling the market's desire for consistency in a faltering economy... some counter cyclical recession winners like Dollar Stores... c'mon, pretty bearish sell... and some takeover names which are pure speculation... something I don't frown upon... unlike everybody else in the business... but we don't really want to see speculative names dominate this key list either.... that was it.

There was nothing else on this stock market's honorable one month ago. Today we are in the exact opposite situation. Let's go to the monitor and take a look at this because it was really is rather incredible... let me just tick off some of the important sectors and the representatives on the 52-week high convention... these are all the guys attending....

[Jim then went through the following 31 stocks that hit the 52-week high list today, as follows:]

Deere & Co.

Kraft Foods

Gardner Denver


VMWare, Inc.

NetApp, Inc.

Riverbed Technology

Akamai Technologies

Under Armour, Inc.

G-III Apparel Group

Union Pacific Corp.

Berkshire Hathaway

Anheuser-Busch InBev

W.W. Grainger

Joy Global

Timken Company

BCE, Inc.

City Telecom

Chipotle Mexican Grill

Yum! Brands


Lubrizol Corp.

Cytec Industries

Cummins, Inc.

Monroe Muffler & Brake

Allis-Chalmers Energy, Inc.

Ball Corp.

Crown Holdings, Inc.

Novo Nordisk

Clorox Company

Fossil, Inc.

These are all hitting 52-week highs. I am a huge believer in using that high list to measure the health of this market. When you have lots and lots of areas rallying, then you are able to craft multiple themes... you can weave different webs to ensnare different buyers.