This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cramer's 'Mad Money' Recap: A Symbolic Lesson

Click here for an archive of Jim's Mad Money Recaps.

Jim Cramer ate a plate of crow at the beginning of his "Mad Money" show Wednesday night. It pained him, but he told viewers on CNBC that he got it wrong on Symbol Technologies (SBL).

"This is a company that almost killed me," Cramer said.

Cramer said he had bought the stock some time back because he thought it would be a great homeland-security play. He figured the U.S. government would be buying radio frequency identification technology from Symbol, and then the money would come tumbling in. So he bought. And then he waited. And waited some more. The stock just kept going down. Eventually, Cramer sold the stock at right around $10.

So what caused Cramer's humility Wednesday night? The secretary of Homeland Security, Michael Chertoff, announced a massive restructuring today. He is going to spend a lot of money on technology. And, Cramer, said, that means Symbol is poised to win contracts. So why didn't the stock move on the news? Because, Cramer said, too many people lost money the first time around. There are still too many disbelievers.

So where to for Symbol from here? Cramer said that he blew it, but other investors don't have the baggage he does. As such, "You can go out and buy it now," he said.

Moving on to the callers, someone wanted to know what he should do when a stock he owns has gone down. When do I sell and when do I buy? the caller wondered. Cramer said that if the stock was bought as a trade, you blow out of it. If, however, the stock was bought as an investment, then you do more homework and decide if you want to buy more. Remember, Cramer said, "It's called buy and homework."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
PLMO $0.00 16.67%
ADM $47.95 -0.72%
APD $151.95 0.38%
AMGN $172.60 4.00%
BG $84.54 -0.45%


DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs