This article was originally published Feb. 18Click here for an archive of Jim Cramer's Mad Money recaps.
Jim Cramer used today's meandering markets to catch his breath and separate fact from fiction. He used his "Mad Money" TV show on Tuesday to cut through the confusion of what he called the top 10 market myths.
Cramer: Long-Term Look at CAT
Gold ShinesCramer talked with Sean Boyd, CEO of Agnico-Eagle Mines ( AEM - Get Report), a stock which on Jan 27 he said not to buy and instead to wait for a pullback. Since then, shares of Agnico have risen 3.4%.
Off the ChartsIn this segment, Cramer took a hard look at IBM ( IBM - Get Report) to see if this company's chart and its fundamentals have what it takes for the toughest of markets. Cramer said according to the chartist, IBM looks good. The company sold off big in October on large volume before hitting its low in mid November. Since then the stock has been showing signs of strength, trading above its 50-day moving average, with peaks continually hitting its resistance line. On a fundamental basis, Cramer said there's only one reason to own IBM: its earnings. The company recently beat Wall Street estimates by 23 cents a share. IBM is in the business of saving other company's money, said Cramer, with 80% of its revenues coming from software and services. With a $170 billion backlog, Cramer said the outlook for IBM looks strong. He also likes the company's 2.1% dividend yield and its stock buyback program. He said he'd be a buyer of IBM on any weakness and especially if it fell under $90 a share.