In the last 'Stop Trading' segment of yet another dramatic week in U.S. and global markets, Cramer talks to Erin Burnett (together in the same room for the first time in quite a while). After trading some banter about her recent sojourn in Russia, they bring up Citigroup , Wal-Mart and several other stocks on Cramer's mind.
They both seem to feel that the Citigroup story really doesn't seem so bad in the larger picture, despite its current state of affairs. It may be that we've all developed "battle fatigue" and are inured to the possibility of another giant financial player collapsing. But Cramer feels it's fairly unlikely Citigroup would be allowed to fail, and points out how short sellers are "breaking it successfully," with its current price levels.
Cramer calls Citigroup and other down-on-its-heel stocks like AIG and Ford "zombie stocks." These companies are shambling along at such low prices (not to mention shedding body parts along the way), it's like a scene out of "Night of the Living Dead."
Moving to retail, Cramer extols Wal-Mart CEO Lee Scott for successfully turning the giant chain around and even making it "cool to shop at," which used to be competitor Target's strength (Cramer: "I don't even shop there anymore."). His only lament is over Scott's decision to step down.
Two final stocks that Cramer mentions are both somewhat recession-proof to a certain degree. Pepsico, while "under pressure," continues to perform well. XTO is another good one to watch (CEO Bob Simpson also receives his share of praise for his handling of the energy company) as we head into the colder months. As Cramer notes: even in a recession, we'll "still turn the heat on."
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