KUDOS TO CRAMER

Jim Cramer got this one right when he suggested late last week to buy August CSCO 20 options. The stock has rallied from the mid 19's to the mid 20's and that is a huge move for CSCO in the post bubble era.

Today he is out with commentary on TWX:

"I am rarely amazed at how sometimes stocks act so badly. I just got off the phone with the Ingersoll Rand (IR) guys, for example, to ask what the heck, how can their stock be so horrible after a pretty darned good quarter? I have said the same thing to Nabors (NBR) and to Foster Wheeler (FWLT) .

But this Time Warner (TWX) . Now that one takes the cake. Giant buyback. A resurgent cable business. An aggressive maverick shareholder. Good quarter.
And it still doesn't move. At this point I don't know what does move it.
Frankly, this is an unimaginable situation, and it makes me wonder if the story simply can't be told or if the AOL business and the magazine businesses are just plain awful enough to overshadow all of the other businesses.
I also think that there is tremendous disdain for a company that borrows big money to buy back stock.

Still, tough, this one is really stuck. It would be very hard not to be so frustrated as to give up on this one. Just awful."

Is this the call we have been waiting for on TWX. Would not surprise me if it also rallied a buck from here.