Jim Cramer: Buy Amazon and Cliffs, and 2 More Stock Picks
Jim Cramer made the following calls on November 12th, 2013. What do you think about his picks?
Amazon.com Inc. (NASDAQ:AMZN): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on October 29, 2013. The stock’s 52-week high is $368.40, and its 52-week low is $218.18. Cramer said that Amazon will be a stock that many hedge fund managers who are looking to play catch-up will be trying to add to their portfolios as the year’s end nears. Because it is results that many on Wall Street are looking for on a shorter-term time frame, some names will lose momentum, but Amazon will be a company that will win out this holiday season, Cramer implied.
Cliffs Natural Resources Inc. (NYSE:CLF): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on December 19, 2012. The stock’s 52-week high is $40.40, and its 52-week low is $15.41. Cramer and his colleague, Bob Lang, looked at the trading charts of Cliffs Natural Resources, seeing several patterns that made the stock a buy to the duo. Among the trends that were examined were a cup-and-handle pattern on the company’s daily chart and an inverse head-and-shoulders pattern on the company’s weekly chart.
Clorox Corporation (NYSE:CLX): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on November 8, 2013. The stock’s 52-week high is $92.19, and its 52-week low is $72.20. Cramer was not slow to repeat his recommendation on Clorox, a company that he has highlighted for its innovation, despite having product lines that would not usually be conducive to the creative process. Cramer said that the recent weakness in some aspects of the organic food industry is actually good news for Clorox, which may gain traction with its Burt’s Bees brand.
Cree Inc. (NASDAQ:CREE): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Buy on July 18, 2013. The stock’s 52-week high is $76.00, and its 52-week low is $29.38. Cramer was unable to give his seal of approval to Cree. He noted that the stock has gone all over the place, and that, since he cannot feel confident about its performance, he thought that it was best to pass on the name.
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