Jim Cramer: "What does Target care about Ireland?"

Cramer did not receive the memo that Target

is now a credit card company

Target beats estimates and becomes a credit card company

11/18/10

NEW YORK (The Street) -- Investors need to see through the smokescreen of negativity, Jim Cramer told the viewers of his "Mad Money" TV show Thursday. He said those who took advantage of Tuesday's big selloff, profited handsomely today.

Cramer said Tuesday's market decline was spawned by concerns over debt in Ireland and a decline in oil prices. But in the fog of the panic, everything got taken lower, even stocks that have nothing to do with either. "What does Target (TGT) care about Ireland?" asked Cramer.

In reality, Tuesday was a fabulous day for Cramer's "FADS CAN" group of high- growth names. Cramer said between Tuesday's low and today's highs, the gains in the FADS CAN stock were remarkable:

• F5 Networks (FFIV), up six points.
• Apple (AAPL), an Action Alerts PLUS stock, up nine points.
• Deckers (DECK), up three points.
• Salesforce.com (CRM), up 15 points.
• Amazon.com (AMZN), up seven points.
• Netflix (NFLX), up eight points.

Only Chipotle Mexican Grill (CMG) was down this week, and Cramer said he'd be buying that one hand over fist.

Cramer encouraged viewers to always have a shopping list ready of stocks they'd like to buy. Then, when the market puts those stocks on sale, be ready to pounce. "See through the smoke," said Cramer, "and take advantage of the selloffs.

Amazon Shows Us What Bernanke's QE-2 World Will Be Like

Amazon.com is going to buy Diapers.com for $540 million.

Fortune Reports:

Amazon.com on Monday will announce that it has agreed to acquire Quidsi, the parent company of websites like Diapers.com and Soap.com. The purchase price is $540 million in cash, with Quidsi's co-founders agreeing to multi-year employment contracts with Amazon (AMZN). The price tag is $200 million over what Quidsi was valued at in its latest round of venture financing.

Does anyone still think QE2 is going to end up as excess reserves, while at the same time commodities are soaring and Amazon signals it is time to start spending crazy sums?

Money is going to be leaking all over the economy. Only salaried workers, pensioners and other fixed income types will be left high and dry. Of course, salaried workers, pensioners and other fixed income types are the entire middle class and below. It'll be the wheelers and dealers, asset holders and the elite bankers, who will cash in on Bernanke's printing binge.




Posted by Robert Wenzel
Economic Policy Journal
11/6/10
Economic Policy Journal Site

Amazon hit with $269 Million Texas tax assessment over sales

By Wallace Witkowski
10/22/10

SAN FRANCISCO (MarketWatch) -- Amazon.com Inc. said Friday the state of Texas alleges the online retailer owes $269 million in uncollected sales taxes, according to a Securities and Exchange Commission filing Friday. The assessment covers sales that occured between Dec. 2005 and Dec. 2009. "We believe that the State of Texas did not provide a sufficient basis for its assessment and that the assessment is without merit," Amazon said in the filing. "We intend to vigorously defend ourselves in this matter."

Amazon.com offers new lower-priced Kindle DX (who cares)

SEATTLE (AP) -- Online retailer Amazon.com Inc. said Thursday it is introducing a new version of its higher-end Kindle at a lower price as competition among electric-book readers intensifies.

The new version of its Kindle DX has a better screen that will display sharper images.

The large-screen reader with free 3G Wireless will be sold for $379. That's down more than 22 percent from $489 than the price on the previous high-end version.

It can be pre-ordered immediately and will ship on July 7.

Electronic book reader prices wars have been heating up. Last week Amazon.com Inc., based in Seattle, cut the price on its smaller Kindle by $70 to $189 after Barnes & Noble reduced the price of its Nook e-reader by $60 to $199. Both face competition from Apple Inc.'s iPad, which starts at $499.

The Kindle DX, which has a 9.7-inch screen, is about one-third of an inch thick.