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By Jim Cramer
Subject: Jim Cramer's Action Alerts PLUS -- VZ FCX
Wednesday, May 14, 2008 12:46 PM EDT
Dear Action Alerts PLUS Subscriber,
I am going to make two trades after this Alert goes out. I
will sell 500 shares of Verizon (VZ:NYSE), and I will take
the profits and add 300 shares to my Freeport-McMoRan
Copper & Gold (FCX: NYSE) position.
This call is pretty simple. I'm taking profits in VZ after
buying the stock three months ago at $34.48 -- a 14% gain
plus the dividend was a nice trade for me. I still like
company and the 4.38% yield, but I don't want to be too
greedy. The stock will continue to make up 3% of my
portfolio.
And as I discussed yesterday, I am still a huge believer in
the global infrastructure-build story and the secular
growth story in commodities. Freeport-McMoRan is a great
way to play this theme, as it is one of the world's largest
copper and gold mining companies. It also has large
exposure in China, and I think the rebuilding will be
significant after the recent earthquake in that region.
The valuation is still attractive and I think this stock
could see $150 in the long term. I will buy 300 shares and
have a 3% position in the fund after my purchase.
Regards,
Jim Cramer
DISCLOSURE: At the time of publication, Cramer was long
VZ and FCX.
Send email to james.cramer@thestreet.com.
