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Jim Cramer's Stop Trading! Qualcomm Questions
03/30/07 - 02:52 PM EDT
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Don't touch this Qualcomm QCOM rally, Jim Cramer said Friday on CNBC's "Stop Trading!" segment. Cramer said he believes the fundamentals are solid at the San Diego-based wireless chip company, but he doesn't like the trading in Qualcomm stock, up 54 cents Friday at $42.79. Cramer said he sees some "walking up" buying by funds that want to nail down an outperforming quarter by pushing the stock higher. Buying into such a rally is dangerous because the rest of tech has been so tepid, Cramer said. Cramer also questions the rush into Take-Two TTWO, saying that it's not easy to "clean up financials" and that the video gamer is emerging as "such a promised-land situation." Cramer likes the best-of-breed agriculture plays, though, citing the nation's attraction to the ethanol silver bullet. Cramer likes Deere DE, saying that "when farmers get money they buy equipment," and Bunge BG, the sultan of soybeans. But best of all is Archer Daniels ADM, which Cramer said is "in the sweet spot." He rules out more speculative ethanol-only names, saying there's no need to "roll the dice."
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