Jim, what do you think of William O'Neil's rule of never averaging down on a stock?-- Joe from Ohio James J. Cramer: I believe that when trading, which uses a short-term time horizon, it is never wise to add to a losing position. But when investing for the medium- to long-term, I often will add to stocks when they are down if the fundamentals are still strong.
Jim, what's your thinking on JP Morgan Chase (JPM)?-- Joseph from Canada James J. Cramer: I believe JP Morgan Chase works here. Jamie Dimon will be taking the reigns very soon, and I believe he was key to Sandy Weill's success at Citigroup ( C). I believe the 4% dividend yield is safe and that Dimon will hit the ground running, cutting costs and getting all the company's businesses into tip-top shape.
Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.