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At the close of Tuesday’s Mad Money at the Half, Cramer touched on a few trends investors should watch.

The fact that Flour [FLR  Loading...      ()   ] is trading down almost $5, or about 6%, today is “ridiculous,” he said. Foster Wheeler [FWLT  Loading...      ()   ] CEO Raymond Milchovich, in a recent interview with Cramer, said that none of his company’s infrastructure projects will be cancelled unless oil drops below $70 a barrel. If that’s the case, the Cramer recommended buying FLR on this weakness.

“I think that infrastructure is way, way overdone to the downside,” Cramer said.

He also recommended XTO Energy [XTO  Loading...      ()   ], Nabors [NBR  Loading...      ()   ] and Halliburton [HAL  Loading...      ()   ], saying “it’s time” for these stocks to be bought.

Defense stocks like General Dynamics [GD  Loading...      ()   ], L-3 Communications [LLL  Loading...      ()   ], Northrop Grumman [NOC  Loading...      ()   ] and Raytheon [RTN  Loading...      ()   ] might be trades going into the Republican National Convention, especially as hawkish presidential hopeful Senator John McCain gains traction against Barack Obama the dove.

Lastly, Cramer said it might be time to buy gold stocks again, as this group is just as oversold as infrastructure. He recommended SPDR Gold Shares [GLD  Loading...      ()   ].

“I’ve hated gold,” he said, but “I think it’s time.”






Jim's charitable trust owns Foster Wheeler.

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