Carolyn Boroden was one of the first technicians to predict Apple was heading higher back in August. She remains bullish on the stock, predicting a $792 price target if the stock can surge past a resistance area between $575 and $582 a share.
Bob Lang saw a beautiful daily chart in Apple, one that showed the stock resting after a 10% rise in just 10 days. He noted the MACD momentum indicator showed a bullish crossover, causing him to feel the stock could play catch up and rise above $600 a share soon. Lang also liked the weekly chart of Apple, noting a "W" formation, as well as the RSI and Williams' oscillators confirming the bullish patterns.
Tim Collins took a longer-term look, using a monthly chart to note a bullish channel for Apple that extends back to 2006. The support line of that channel has never been breached, and that could see Apple at $900 a share by 2015.
Cramer said he's not fighting the technicals on this one. Apple is poised to have a strong holiday season and a strong 2014, he said, and that's good enough for him.
Lightning RoundIn the Lightning Round, Cramer was bullish on Chevron (CVX), Exxon Mobil (XOM), Zoetis (ZTS), Schlumberger (SLB), Alcatel Lucent (ALU), First Solar (FSLR) and American Realty Capital Properties (ARCP). Cramer was bearish on Halliburton (HAL), Accenture (ACN), Sunpower (SPWR) and Monmouth Real Estate (MNR).
Off the TapeIn his "Off The Tape" segment, Cramer looked into electronic cigarettes by speaking with Craig Weiss, president and CEO of the privately held NJOY. Weiss explained that NJOY's mission is to make regular tobacco cigarettes obsolete by replacing them with electronic cigarettes that offer the same nicotine without the harmful and annoying side effects. He said e-cigarettes are an emerging category and one where public perception hasn't caught up with the science. When asked about that perception, Weiss said NJOY and others want to be part of the solution, not the problem. But with so many people fighting tobacco for so long, anything with the word cigarette in its name is met with intense skepticism. That said, NJOY is encouraging smokers to make the switch to a healthier alternative. Finally, when asked whether the company would consider coming public, Weiss said NJOY is considering all of its options but at the moment it enjoys the freedom of being independent and focusing on its mission of making tobacco products obsolete.
No Huddle OffenseIn his "No Huddle Offense" segment, Cramer opined on what effect the Volcker rule will have on the earnings of JPMorgan Chase (JPM), Goldman Sachs (GS) and the other major financials that have been rallying against such a measure for years. His conclusion? Almost nothing. Cramer said the Volcker rule might cause a penny-a-share fluctuation in the earnings for these big financials, but what it will impact upon in a big way are the P/E ratios of these financials. Cramer said that ever since JPMorgan's rogue trader incident, investors have been stashing money into other, perceived safer, financials like MasterCard (MA). However, with the Volcker rule in place, these rogue individuals will be aggressively hunted, meaning investors can once again rest easy -- which in turn makes these stocks a lot more valuable. Cramer said this is the first time in a long time that the government has done something that is actually good for the financials. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV