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Cramer: I've Done the IBM Homework For You

Debra Borchardt: You had to read all the way to the bottom and the key is like you said, a lot of people stop after the first two or three paragraphs and then all of the good stuff, the real stuff, is at the very bottom where they say "Oh yeah, by the way, guidance was good."

Jim Cramer: Guidance was good. I'm at a funny point in my career. IBM last night and Google... I knew I had to get through them. I had a lot of other things I wanted to do, but I knew that I had to get through them so that I could be able to answer your questions and be able to write and it was really hard. Google took me an hour and ten minutes, IBM an hour and fifteen minutes. Most people don't want to do that. They just don't want to and I can't blame them. Maybe they just don't feel it's important but if you want to know why a stock goes up and down, you've got to read that and you've got to read the notes and it's a big drag.

Debra Borchardt: Right.

Jim Cramer: If you're going to be a pro, you got to do it.

Debra Borchardt: All right. So IBM, would you get in here?

Jim Cramer: Yes. We own it for Action Alerts Plus, but yes. I'd hope it would come in and I'd buy some more because IBM is selling at ten times earnings. I had a moment today with Melissa Lee where she was saying that an analyst, who I don't even know, was saying it's over valued. This is an example where I've been around longer than the analyst. I know IBM pretty well, own it for Action Alerts and sure if the market just craters then stock will go down, but it was a good quarter and unless you understand the nuances of this market, you're not going to make a lot of money.

Debra Borchardt: Where do you think it could go?

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