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As Visa files terms for its IPO – potentially the largest in U.S. history – Cramer said on Monday’s Stop Trading! that he expects it to be a “great deal.” The credit card companies are plays on an international paper-to-plastic sea change and shouldn’t be sold on worries about a soft U.S. consumer, he said. Mastercard [MA
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] is still a buy as far as Cramer is concerned even though it was down 5% Monday. Use those kinds of dips to load up on MA, he recommended.
The bond insurers and oil are the only two stories that matter in this market, Cramer said. When Ambac [ABK
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] and MBIA [MBI
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] go up and oil holds around $100, everything else seems to go up, too. That might explain Monday’s late rally. And whenever the market soarshigher, it’s a good time to go over Cramer’s Rally Rules.
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