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NEW YORK (
) -- "It's the end of the world as we know it," or so said the bears at the crux of today's decline, Jim Cramer told the viewers of his
Tuesday. Yet somehow, he noted the inverse never seems to be true during the big rallies.
Cramer said the the important takeaway from today's trading were the
's comments that it's essentially getting out of the way of companies trying to make money. He said the Fed is giving companies the room they need to invest and grow, to refinance and get stronger.
So why the violent market swings from negative to "less" negative? Cramer said it all depends on perspective.
For many investors, and pundits alike, when they think about the market, they think about the U.S. Yet as
noted on their conference call, 96% of all consumers live outside the U.S. UPS is seeing strong growth overseas, but little growth in its U.S. small or midsize business customers.
That begs the question, does the U.S. really matter to big international companies like
? In a word, no.
Cramer said these companies are not being held captive by an ailing U.S., they're seizing opportunities in the rest of the world. He said too many investors are worried about only the U.S. markets, which makes them lose focus.
"Start thinking about "we" as the rest of the world," said Cramer, and your portfolio will reward you.
In an exclusive "Executive Decision" segment, Cramer sat down with Sean Boyd, CEO of
, a stock which Cramer last recommended on April 29.
Boyd said that now is the "perfect environment" for gold, with strong demand and low real interest rates. He said with gold only off 5% from its all-time high, he expects prices for the commodity to rise sharply as we enter the historically bullish late summer and early fall period.
When asked about the longer term outlook for gold miners, Boyd said that gold is a tough business to be in since they're always fighting mother nature. He said all of the easy gold deposits have already been found, so finding gold is always getting more and more difficult.
When asked more specifically about Agnico-Eagle, Boyd said that his company has always been about and ensuring its dividend payments. He said while unit costs rose in the current quarter, the company was focused on growing cash flow. Once Agnico's mines are all fully operational, unit costs will be heading lower, he said.
Finally, when asked if gold could see $2,000 an ounce in the coming years, Boyd said that price is definitely feasible.
Tweaking the Mobile Internet Index
In the latest tweak to his Mobile Internet Index, Cramer offered up a replacement for
, which recently received a takeover bid. Cramer said Internet video giant
is the perfect candidate to fill the vacant spot.
Akamai is already up 60% since Cramer last recommended it on Jan. 20; however he said this is one case where investors may have to buy high, and sell higher. Shares of Akamai are down slightly from where it reported earnings a few days ago.
Cramer said Akamai is an Internet infrastructure play, helping companies deliver video and other content to customers wherever they are. Management recently noted that the notion of customers having three screens, a TV, PC and a mobile device, is now a reality.
Cramer said the perceived shortfalls in Akamai's recent results were nothing but, as the company was reinvesting in its infrastructure to maintain its accelerated revenue growth through 2011. The company has $1 billion in cash on the books and is also growing its gross margins through increased value added services.
"There's a need for speed on the net," said Cramer, and that means Akamai.
Off the Charts
Cramer went head to head with colleague tim Collins over the chart of
, a stock which is down 15% since Cramer last recommended it on Feb. 23.
According to Collins, Chesapeake may have finally turned the corner, but its upside will be limited. He noted the stock making higher lows since July on the daily chart, with the relative strength index also trending higher. Collins felt the floor for Chesapeake is around $21 a share, but the upside may be capped at $24 a share.
With the weekly chart confirming his theories, Collins said he'd be a buyer of Chesapeake between $21 and $22 a share.
Turning to the fundamentals, Cramer said he's not concerned about limited upside, just that Chesapeake has turned the corner and now has some positive momentum. He said once the stock gets moving, it will likely continue.
Cramer said many people still consider Chesapeake as only a natural gas company, but in reality it's bumping its oil assets from 10% of its production to 25% total production by 2015. The company has also stopped spending on its natural gas assets until prices for the fuel recover from their lows.
With Chesapeake's disciplined strategy for growth, and an enterprise value what exceeds its share price, Cramer reiterated his buy on the stock.
Cramer was bullish on
He was bearish on
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was not long any of the equities mentioned.
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