CRAMER AGAIN
Wednesday, May 19, 2004 9:58 a.m. EDT
Dear Action Alerts PLUS Subscriber,
I'm free to trade Nortel (NT:NYSE) today, and will pick up
2,500 shares after you read this. It pains me to know that
the stock was trading 10% lower yesterday, but hopefully
you readers were able to take advantage of my call to buy
shares at those more favorable prices. Such is the reality
of my trading restrictions.
What more can I say about Nortel? The prior management team
did some terrible things, but the company still has a lot
of cash on the balance sheet and its VoIP equipment market
is on fire. If we remain patient and weather the daily
barrage of negative headlines, I believe we'll ultimately
make some good money with this position. This purchase
gives me a total of 57,500 shares of Nortel.
P.S. Some of you more active traders should look to lock in
some gains with Phelps Dodge (PD:NYSE), which is up a quick
5 points since Tuesday morning, to $66.38. Another one of
my trading restrictions is that I must hold stocks for one
month, but I'll always alert you readers when I see short-
term opportunities like this.
Regards,
James J. Cramer
DISCLOSURE: At the time of publication, Cramer was long
Nortel and Phelps Dodge.
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