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Thursday, September 27, 2007

Jim Cramer calls Goldman Sachs (GS) Best of Breed

One 9/20/2007, Jim Cramer claimed that he had been behind Goldman Sachs (GS) all the way since the show started. With the stockTagger database in hand, I attempted to figure out if this has been true, and for the most part it has as Cramer rode the stock from 120 to 215 where it currently sits. Cramer has alerted viewers to short term price fluctuations in the past, being correct in almost every short-term instance.

On 5/16/06, in response to a caller's question about CME Group (CME) (Chicago Mercantile Exchange), Cramer said of financial stocks, "I happen to think that this stock is part of a complex of names including BOT, International Securities Exchange Holdings (ISE) and, let's go further, Goldman Sachs (GS), Lehman Brothers (LEH), and Bear Sterns (BSC) that is not done coming down. I see a shift in the market toward the companies that do better when the short rates are done going up, thank you Federal Reserve. And you're stock, and that whole other complex, is going to take a breather. I say, don't buy, don't buy, don't buy." He reiterated his sell on 5/17/06 and then told viewers to buy on 5/18/06 a few points lower.

On 6/14/06, during another dip in the stock, Cramer advised viewers to buy the stock down four days later, but by then it was up almost 7 points.

Most recently, Jim has called Goldman Sachs (GS) the best-of-breed brokerage over its rivals saying, "With the fifty basis point rate cut, this time has finally become the brokers' time"..."I think this stock is going much higher. How high? I think it can earn thirty dollars a share and deserves to sell at ten times earnings. So where does that put it? 30 x 10 brings it to 300 dollars, my original price target."

Jim Cramer track record on GS

2 comments:

posted by Trading Goddess on 9/28/2007 11:26:00 PM

Am I blind, or am I truly not on your blogroll?

I am crushed. waaaa!

posted by stockTagger on 9/29/2007 04:12:00 PM

How could I have forgotten about the lovely Trading Goddess? My life is empty without your link.