Lightning Round: Take profits out of Westlake, says Jim Cramer
Speakers
Jim Cramer -- Host, 'Mad Money'
— CNBC host, Mad Money
Summary
- Jim Cramer recommends taking profits in Westlake Chemical immediately, citing a parabolic price move and unfavorable chart technicals.
- He suggests the chemical sector may be overheated and could cool if geopolitical tensions (referred to as "the war") ease.
- Cramer attributes the recent decline in gold prices to speculative trading by young investors flipping in and out, rather than fundamental safe-haven demand.
- He expresses a preference for Agnico Eagle as the gold stock to buy, implying it is more reliable than others in the speculative gold market.
- For Okta, Cramer advises buying more shares, highlighting the company's consistent earnings power under CEO Todd McKinnon.
- The profit-taking call for Westlake is short-term, with a specific suggestion to act the next day.
- Cramer's view on gold indicates a disconnect between geopolitical risks and price action, driven by speculative behavior.
- Uncertainty exists around what specific "war" Cramer refers to, which could impact the chemical sector thesis.
Trade Ideas
Cramer explicitly stated that Westlake Chemical has had a parabolic move, he dislikes the chart, and recommended taking profits tomorrow. Parabolic stock movements often lead to corrections, and poor chart technicals signal overbought conditions, making it prone to a downturn. Direction is AVOID because investors should sell to lock in gains before a potential decline. If the chemical sector remains strong or if the referenced conflict persists, the stock might continue to rise despite technical warnings.
Cramer directly advised buying more Okta, praising the consistent earnings power demonstrated by CEO Todd McKinnon. Consistent earnings power indicates financial stability and growth potential, making the stock attractive for accumulation. Direction is LONG for adding to positions based on fundamental strength and earnings consistency. Earnings power could be disrupted by increased competition, market shifts, or execution issues.
Cramer mentioned that Agnico Eagle was previously featured and is the gold stock investors should want to buy. In the context of gold's speculative trading, Agnico Eagle is presented as a more reliable choice for exposure to the gold sector. Direction is LONG as it is endorsed as a preferable investment compared to other gold stocks. Gold price volatility and speculative market dynamics could negatively impact performance, regardless of company quality.
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Speakers: Jim Cramer · Tickers: WLK, OKTA, AEM