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Stop Trading: Alt Energy "Boone"?

Cramer focuses on alt energy in today's Stop Trading segment with Erin Burnett, and has nothing but praise for T. Boone Pickens, after the billionaire (who made his fortune in oil) strongly pushed today for increased utilization of renewable energy sources -- natural gas, wind and solar.

"How can you not love him?" Cramer asks.

And his play for wind? Owens Corning. Their composite materials are the most durable (wind turbines run very hot so maintenance is an issue, with blade breakage a major concern). But a downside to OC is they're tied up in the housing mess, a fact to consider before any possible play. Erin adds that wind provides only one or two percent of the country's energy, so there may be significant growth potential.

Solar, another source of alt energy, is big in California -- and big with Cramer -- but unfortunately was damaged by insider trading scandal. Still, Jim notes that Democratic presidential candidate Obama is strongly behind solar, so there's definite potential in that area.

With this turn into politics, Erin brings up McCain and his stance on alternative energy: he's still strong on nuclear power, so a possible play for him could be Cameco, the largest uranium producer. Still, Cramer isn't quite ready to label it a buy, while admitting he's been focusing more time on Obama than the Republican candidate.

As far as natural gas, Cramer feels shorts are pressing those futures, after a good break last close. One natgas stock looking especially nice is Chesapeake Utilities. As he notes, it's been "clocked" as if it's is headed back to 11 -- basically what futures are already saying.

Cramer's takeaway? There is the sense that worldwide economies are in recession. If not, "these stocks are buys." Boone is giving an alt energy play, he insists, not a carbon play.





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Symbol
Price
 
Change
%Change
CCO
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9697.T
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OC
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