With this difficult month all stocks have had a very hard time pushing higher, so I would be surprised to see any big gains this month for Dow stocks. Below you will see one thing common with the stocks, lows put in on 8/16/07. It started as a very bad day, but ended up being the turnaround day.
On 8/1 Cramer had a thumbs up for HON which closed that day at $57.10. HON hit a low on 8/16 at $52.88 and is currently sitting at $55.80, down 6.82% from its recent high of $59.61 on 8/3 (52 wk high is $61.90).
Also on 8/1 Cramer had a thumbs up for CAT ($80.13 close). CAT hit a low of $70.59 on 8/16, rebounding that day to close at $73.00. It’s latest close was at $76.32, down -7.61% from this months high of $82.13 on 8/8.
On 8/2 Cramer gave a thumbs up for INTC which closed that day at $24.30. INTC of course hit its latest monthly low on 8/16 at $22.09 and hit its latest montly high on Friday 8/24 at $24.88. Note: It also paid a dividend of $0.113 on 8/3. So if you owned 10,000 shares of INTC you got a dividend payment of $1,130. INTC is looking good and Cramer has mentioned that stock several times this month.
Also on 8/2 Cramer mentioned HPQ which closed that day at $48.23. HPQ’s low was $43.64 (8/16) and high was $49.84 (8/8). It closed Friday at $48.10 off $0.74 from its monthly high.
C was mentioned on 8/2 (Thumbs up!) and it closed at $47.24. It’s low was of course on 8/16 at $44.66 and closed Friday at $48.50, off $1.40 from its monthly high of $49.90 on 8/17.
Another stock mentioned on 8/2 was JPM (Thumbs down!). However it performed pretty well so far. It closed that day at $44.59, hit a low of $42.16 on 8/16 and closed Friday 8/24 at $45.95, up $1.36 (+3.05%) from its 8/2 close. Jim thought JPM would be affected by the subprime debacle but so far its not showing any signs of strain.
Now if someone insisted I pick one of these stocks above I would pick INTC. I like tech, but that’s just me.