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On Tuesday's "Mad Money" show, Jim Cramer said that, in spite of what the mainstream media might advise, a day with an intraday pullback is a day for buying stock.
Recently, secondary stock offerings such as Bank of New York Mellon's(BK Quote) and Anadarko's(APC Quote) have been successful. In the case of Bank of New York Mellon, Cramer said that the stress tests strengthen banks. As for Anadarko, the company seeks to improve its balance sheet with the money it earns from its offering.
On Wednesday, Bank of New York lost 48 cents, or 1.7%, to close at $27.95, and Anadarko gave up $2.41, or 5.3%, to close at $43.50.
Ford(F Quote) has an offering coming up, and Cramer recommended getting into the stock below the offering price. ...
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