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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Exxon Mobil (XOM) - Get Report , Chevron (CVX) - Get Report , Pioneer Natural Resources (PXD) - Get Report and Schlumberger (SLB) - Get Report : In the "Off the Charts" segment, Cramer checked in with colleague Robert Moreno to review the charts in the oil patch after a strong rally in recent weeks. Readers may recall that Moreno was bullish on the oil stocks back in February, but he now feels the rally may be overdone.
Shares of Exxon Mobil have rallied 11% since Moreno's bullish call in February, but today he noted that both the MACD oscillator and the Chaikin money flow indicators are flattening. Also, the percentage price oscillator, the difference between moving averages as a percentage of the larger one, is also signaling that Exxon is due for a pullback.
Moreno then looked at Chevron, which has run up 18% since February. He noted that this rally is also running out of steam with the Chaikin signaling a bearish divergence.
Pioneer Natural Resources broke out to the upside in February, but has since hit a ceiling of resistance at $168 a share. Moreno said this stock must clear that resistance before it can head higher.
Finally, Moreno looked at Schlumberger, an Action Alerts PLUS name. After displaying a bullish inverse head-and-shoulders pattern, the stock now displays a normal head-and-shoulders, signaling that it's time to move on.
Nike (NKE) - Get Report , Under Armour (UA) - Get Report and Foot Locker (FL) - Get Report : What should investors make of the athletic stocks Nike, Under Armour and Foot Locker? Do these stocks trade on which shoes athletes are wearing? On who wins the playoffs? Is Under Armour's 15-year deal with UCLA for $280 million a good one?
Cramer said when so many questions pop up in a given sector, it's time to take a pause. This group, he admitted, has simply become too hard to figure out. That means these companies are in "show me" mode, and must once again prove they're worthy of our investments.
Cramer was not pleased with any of the recent earnings from these companies, and many investors share that view. When shareholders are itching to leave a stock, that's never a good time to invest, he concluded.
Thermo Fisher Scientific (TMO) - Get Report : In an exclusive interview, Cramer sat down with Marc Casper, president and CEO of Thermo Fisher Scientific, an Action Alerts PLUS holding that's up 6% so far in 2016 and trades at 17 times earnings.
Casper said genomics has become a big area for Thermo Fisher and many customers see his company's equipment as essential for the work being done. He said the technology in this area is getting better and better and we should see some real breakthrough science.
Thermo Fisher has partnered with the CDC and world health organizations to combat the Zika virus, Casper explained, and he's encouraged by the work being done to both test for and eventually treat this growing problem.
Casper is also bullish on China, Thermo Fisher's second-largest market, which accounts for 7% of revenue. He said the company has 4,000 colleagues working with customers in China and Thermo Fisher is now the largest life science company in the region, creating the scale to excel.
Thermo Fisher is also shareholder friendly, having bought back $1 billion of its own stock and keeping $12 billion on hand for mergers and acquisitions.
Cramer called Thermo Fisher a "great story."
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At the time of publication, Cramer's Action Alerts PLUS had a position in SLB.