“People absolutely hate the oils all of a sudden,” Cramer said during Thursday’s Stop Trading!. But the market’s mood should change soon enough.
This is day two of what the Mad Money host said is usually a three-day sell-off. Day four – Monday – is when investors should start buying again. Consider a position in Occidental Petroleum , which is a “great story,” Cramer said, with “terrific” natural gas exposure.
Sovereign Bancorp is “clearly in trouble,” after Moody’s cut ratings on the company and analysts cut estimates. “No one wants to buy them just like no one wanted to buy Nat City ,” Cramer said. The stock could be much lower if market sentiment on an up 155-point day weren’t keeping SOV afloat.
In the timber industry, Cramer said he likes Weyerhaeuser , Louisiana-Pacific and Temple-Inland, though WY is “the best.”
Lastly, Apple is still a Cramer favorite, especially on the strength of the company’s video-conferencing tool, iChat. He said the program is a step forward for communications the way television was in the 1930s.
“Hewlett-Packard and Dell are now radio companies,” Cramer said, “and Apple is a TV company.”
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