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Hold 'Em or Fold 'Em?

If investing on Wall Street were a game of poker, Cramer would go all-in on Cisco and its brethren in tech right now.

Cisco Systems CEO John Chambers has trumpeted the success of his business in both the Financial Times and The Wall Street Journal in recent weeks, and he announced a huge buyback just days before his quarter ended. To Cramer, there aren’t many more signals that show how confident a manager is in his company. Cramer doesn’t think the stock is done going up.

Also in the sector, Amazon, Google and eBay should get strong consideration from investors. As should Level 3 Communications, Cramer’s favorite play on streaming video and the bandwidth needed to make it happen.

Coca-Cola and Pepsi are winners too, Cramer said. The earnings are consistent, and in this volatile market, food and beverage stocks are a great defensive strategy for any portfolio.

The financials, on the other hand, shouldn’t be touched. Yes, they got a glimmer of hope from the Fed yesterday, which sparked a bit of a rally, but don’t confuse that with a bottom, Cramer said. Fed or not, the situation for financials is not good.

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