Cramer: More Stocks That Could Be Ripe for Profit-Taking

 | Oct 04, 2017 | 11:27 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




















My earlier piece is resonating today about what has moved up that could be ripe for profit-taking.

Here are some stocks that I like very much, but respect the downside if we have a selloff.

First is United Technologies Corp  (UTX) . When it was at $109, I pounded the table so hard here I thought it would break. But now at $118, I think the good news about the Rockwell Collins buy is fully in, as much as the bad news was in nine points ago.

Second, Honeywell International, Inc  (HON) has a strategic review next week, and I think that if they decide not to spin off aerospace, there will be people who are disappointed. That could impact the stock in a negative way.

If the bank stocks come in to this earnings report with a full head of steam, and the employment report isn't as strong as some would expect, then I can see a quick 3%-to-4% decline in the group. That might present a better buying opportunity.

Costco Wholesale Corp.   (COST) reports tonight. I love Costco, but the last few quarters have been fabulous and the stock has gone down anyway. If that happens again, be careful with Home Depot (HD) and Dollar Tree, Inc  (DLTR) , which have both traveled much higher during this period. I would think that Burlington Stores, Inc (BURL) would see some profit taking. I am not backing away from TJX Companies (TJX) , but I think that the seller at $73 will break price and send it to $72.

There is a concerted belief that flash technology is now going down in price. I see pricing relatively stable, but the big rap against Western Digital Corp (WDC) is not only that drives are coming down, but also that flash is peaking. Again, I don't see spot prices falling, but I do want to warn you that profit takers will come on to both Micron Technologies, Inc (MU) and Lam Research Corp (LRCX) if that is the case.

Lower prices may be coming.

Hope that helps.

Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York

Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors. 

You can join them as they discuss how smart investors can make the most of options trading, futures contracts, fundamental and quantitative analysis and great ETFs to buy right now. Participants will also get a chance to meet Jim and other panelists and take photos.

When: Saturday, Oct. 28, 8 a.m.-3 p.m. 

Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.

Cost: Special sale price: $150 per person. (Normal price: $250)

Click here for the full conference agenda or to reserve your seat now.

Columnist Conversations

I caught up with Tyson Foods (TSN) CEO Tom Hayes for an interview on TheStreet that hit on Sunday. Hayes is b...
Gold prices have taken a dive in the wake of the Fed meeting. Interesting move considering how concerned Fed c...



News Breaks

Powered by
Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.