Stop Trading!: Goldman Sachs Is 'Roaring'
Goldman Sachs is “roaring,” Cramer said during Monday’s Stop Trading!, which is noticeably different from most of Goldman’s investment-banking peers.
While Goldman Sachs is now technically a deposit bank, Cramer said he doubts the firm will ever move in the direction of Bank of America or JPMorgan Chase . Rather, Goldman will be an “advisory bank” a la State Street.
“You’re not going to be banking at the First Bank of Goldman,” Cramer said.
Goldman Sachs was up about $2.50, or 2.9%, with an hour left in Monday trading.
Cramer put Nordic American Tanker in the buy column, pointing to the company’s 45th consecutive quarterly dividend increase. NAT announced Monday that it was buying another double-hull tanker for $56.7 million, which would boost both the earnings per share and that dividend. Cramer said that investors should look to pick up NAT for under $36 a share.
And lastly, fertilizer stocks are on the rebound, though Cramer warned of the potential for another decline in the sector. He feared the rally was merely relief from the massive hedge-fund selling that took down so many stocks during the last few months of 2008. He recommended Terra Nitrogen as the way to play this group, saying the company’s dividend offers some much-needed downside protection.
Jim's charitable trust owns Goldman Sachs and JPMorgan Chase.
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