Sure, it's fun to play around with the stocks in Cramer's Red Hot index. And his business-to-business plays -- a trader's dream.
But let's not forget old and tired Net -- you know, the stocks that were out of favor just a few months ago, but paved the way for today's
Internet Capital Groups
all closed at all-time highs today on a split-adjusted basis.
Yahoo!, which acted like a Red Hot after its inclusion into the
, today climbed over its post-inclusion high. It ended the day up 13 1/2, or 4%, at 353 1/2 after trading as high as 357 1/2. Not too much news was out on the company today, though some message boards suggested investors are looking for the stock to split.
AOL closed up 5 1/4, or 6.1%, at 91 1/2 on news that it could be close to a deal with
. Wal-Mart finished up 1 1/4, or 2%, at 63 1/2.
Salomon Smith Barney
analyst Richard Church wrote today that an alignment between Wal-Mart and America Online was "imminent" and could be broader in scope than previously anticipated. Church wrote that there were two possible forms of the alignment. The first would be a cross-selling agreement with Wal-Mart providing in-store kiosks that demonstrate and help sell AOL or
products to Wal-Mart customers. The second would be establishing Wal-Mart as a fifth ISP brand for AOL. That scenario could include a low-priced or subsidized Internet access device sold through Wal-Mart stores that would easily and inexpensively provide Internet access to the mass market, Church wrote.
posted a record close of 106 11/16, or 3 1/16, or 3% today after
yesterday's bullish report on the online retailer from
and ongoing expectations of a strong Christmas.
And speaking of out-of-favor old Net, online brokerages have been among the downtrodden in the Internet sector lately, but sprung back to life today. Optimism likely was stemming from widespread indications that online brokers would have huge fourth quarters due to the ongoing rush into technology and Internet stocks.
closed up 1 3/4, or 5.2%, at 35 9/16, while
ended up 3 1/8, or 12.6%, at 28.
has written about surging volumes at online brokers on at least
occasions in the past couple of weeks.