Off the Charts
In the "Off The Charts" segment, Cramer went head to head with colleagues Dan Fitzpatrick and Rick Bensignor over the chart of Family Dollar (FDO), a stock recently recommended by Cramer.
According to Fitzpatrick, the move in Family Dollar is over, with the chart displaying lower highs as the big money seems to be moving out of the stock. Bensignor concurred with Fitzpatrick, noting that the stock has moved away from trend line and appears to be stalling.
Cramer said these comments made him re-examine his thesis that Family Dollar's increased acceptance of food stamps would bolster the stock. He concluded that with Family Dollar now going up against tougher comparisons from last year, the bump from food stamps might not be enough.Cramer also noted that Family Dollar is still priced from a recession, and is likely to be under more pressure as the recovery continues. Additionally, rival Dollar General is set to come public soon, and is also likely to weigh on the stock. With all of these negatives mounting, Cramer concluded that now is not the time to be buying shares of Family Dollar.
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