Stop Trading!: China Is 'Red Hot'
The Chinese market might be the best in the world right now, Cramer said, but it still has further to go.
China’s stimulus plan is pouring money into energy, health care, infrastructure, among other sectors, and the focus on increased consumer spending should slowly steer the country away from its export-only economy.
“I think China’s red hot,” Cramer said, “and staying hot.”
The Dow is up about 309 points with less than an hour to go in trading, but Cramer isn’t a believer in this rally yet. For that to happen, he’d need to see JPMorgan Chase dip down into the $20s and Morgan Stanley and Goldman Sachs to report strong numbers.
“If Citi’s doing well, how can Morgan Stanley not?” Cramer said. “And how can Goldman not being having a dynamite quarter if Citi’s have that good a quarter?”
Lastly, ag stocks are surging. In that sector, Cramer likes Terra Nitrogen and its 10% dividend yield.
Cramer's charitable trust owns Goldman Sachs, JPMorgan Chase and Morgan Stanley.
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