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Stop Trading!: Buy Retail

Wednesday, 30 Apr 2008 | 3:15 PM ET
Stop Trading, Listen to Cramer!
Mad Money host Jim Cramer shares his stock picks with CNBC's Erin Burnett.

Wall Street's focus on the Fed means some key earnings reports are going unnoticed, Cramer said during Wednesday's Stop Trading!.

Ingersoll-Rand , which has "really made some great changes," had a "monster call." The climate control business IR runs is "unbelievable," Cramer said, "when oil's at $115-$120."

He saved his best words for Jones Apparel , though: "Great quarter. Big dividend. Accelerated buyback. Huge Wal-Mart contract kicking in." Cramer gave JNY two thumbs up, adding that the highs, or near highs, seen in J Crew , Costco , Urban Outfitters (despite being downgraded) and others are part of a "selective retail rally."

Why buy retail in a high gas and food price/declining home prices-type environment?

“We are in the throes of an earnings renaissance," Cramer said, "that is really extraordinary among American companies."

Cramer pointed to the strength of engine-maker Cummins , a notorious poor performer during a recession, which is up $5.

"How many times when you're going into a recession -- where is the recession, by the way? -- has [Cummins] just stunk?"

"And don't forget," he continued, "JPMorgan and Goldman Sachs continue to go higher."

Jim's charitable trust owns Goldman Sachs.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

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CMI
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COST
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GS
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IR
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JA1
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JPM MLP ETN
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URBN
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WMT
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