Cramer's 'Mad Money' Recap: The Dow's Uppers
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The "best place to be," Jim Cramer told viewers of his "Mad Money" TV show Tuesday, is the Dow Jones Industrial Average because it's "full of opportunity."
Cramer believes the index will reach 14,548 this year, and he sees it climbing by close to 500 points in the next three months and then another 500 in the November-December rally he predicts will come. The Dow closed Tuesday at 13,540.Cramer didn't pull the estimate "out of thin air," he said, but rather arrived at it after doing a bottom-up analysis of all the 30 stocks in the Dow by determining what price each stock is likely to reach by the end of the year. In this second part of his weeklong series dedicated to evaluating the 30 stocks in the Dow, Cramer started Tuesday with Caterpillar (CAT), a name that's driving him crazy "because people still don't get it." "It is the single most misunderstood large-cap stock in the universe," Cramer said. People need to understand that Caterpillar, which he owns for his
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