Jim Cramer Says to Hold Disney Despite Run Up Coming Into Earnings

TheStreet's Jim Cramer will be watching Disney (DIS) as the company reports earnings for its third quarter after the market’s closing bell on Tuesday August 4th. ‘The pattern of stocks running into a quarter has often proved to be a good sign,’ Cramer said, adding that ‘Disney is running into the quarter for Tuesday.’ Cramer says that he thinks many of the Disney shareholders are unwilling to sell their shares of Disney despite the stock’s run heading into the earnings release because of all that is going to be coming from the media and entertainment giant. Cramer cites 'Star Wars' and the coming Shanghai Disneyland as two things investors will be looking out for coming from Disney. Cramer says that ‘what you’re hoping to do, if you do sell, is to be able sell it and then buy it back very nimbly.’ However, Cramer says, ‘that has not been a good course.’ Cramer says Disney’s stock ‘has been a straight up stock’ and relates it to other stocks like Netflix (NFLX) and Amazon (AMZN). Disney’s stock has gone up roughly 28% since the beginning of the calendar year. Netflix and Amazon have gone up 133% and 73% respectively in the same time period. ‘If you own Disney because of my recommendation, just hold it,’ Cramer said, adding that ‘there is no reason not to.’