Cramer may like Owens Corning the company, but he can’t get behind the stock right now. OC makes wind turbines as well as home insulation, and with oil at $34 and housing starts down, the stock shouldn’t be bought.
“It’s a very difficult stock to own,” Cramer said of OC during Wednesday’s Stop Trading!, “which is a shame because when oil was at $147, this thing was flying high.”
The Mad Money host also recommended that investors stay away from most agriculture stocks, including Monsanto (“way overvalued and much too big”), Deere (too many company bonds being sold) and Potash. Only Terra Nitrogen , and its 9.5% dividend yield, is worth buying.
Terra Nitrogen is “a better stock,” Cramer said.
Lastly, Cramer brushed off talk of a bubble in gold, saying that commodity’s rise is nothing like the late ‘90s dot-com boom or even housing’s surge this past decade. He thinks gold prices will go higher.
“We are in the most chaotic period I have ever seen,” Cramer said. “You buy gold.”
Cramer’s charitable trust owns Goldman Sachs.
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