Cramer is good at analyzing why things happened...But he is way behind the curve...he basically aligns with whichever way the market is heading. Not to say you cannot learn from the fella...but he is not a trader and he says so over and over again.
I would rather follow Icahn who has billions of dollars invested in betting on copper rather than a talk show host saying things like this.
Tomorrow when copper moves up he will talk about how his value versus growth thesis is playing out. The show is made so that he has the ability to walk around opinions that he has expressed.
But I will tell you...do not take Cramer's words for granted. He will change his opinion in a jiffy and you will be the one left holding the bag.
Currently trades at 120x 2016 EPS...No growth....2017 will be the same as well...what do you see in this company? Even if you give it a 50x 2016 or 2017 multiple...this is a $8 stock. That backlog just enables a $0.16 eps.....no contract extensions and no contract renewals...Even if you are right about the long term potential for RIG, I fail to see why anyone should pay the premium multiple for it today.