Cramer: A ‘Remarkable Moment’ for Markets
“This is one of the most exciting markets I’ve ever seen,” Cramer said during Tuesday’s Stop Trading!, pointing to the action in oil, finance and tech. He attributed the Dow’s last 2,200 points to this “troika” of stocks.
Ten banks now have permission to repay $68 billion in borrowed TARP funds, while oil will climb to $75 before stopping, Cramer predicted. (“That’s where the Saudis want it,” he said.) And the Nasdaq is enjoying a rally all its own, as the chipmakers continue to push higher.
Cramer said he was “blown away” by the good news recently from Marvell Technology , Texas Instruments and even RF Micro Devices. Skyworks Solutions also has been doing well.
These are the companies that make semiconductors for Apple’s iPhone and other 3G and 4G smartphones. A number of stocks in this group offer earnings visibility until 2012, thanks to the latest burgeoning product cycle, wireless Internet.
“This is a remarkable moment,” Cramer said.
Speaking of the iPhone, Cramer said that Steve Jobs or no Steve Jobs, Apple would continue to succeed as a company. The Mad Money host stuck with his original recommendation to sell half an AAPL position going into this week’s Worldwide Developers conference, and then buy it back after the stock dips. Cramer expects Apple will reach $180.
Lastly, Cramer likes AK Steel and especially Nucor as plays on the steel sector’s resurgence. The group’s pricing as a whole reflected the market’s fear of another Great Depression, he said, but is readjusting now that the situation looks less dire.
“These are all coming back,” Cramer said of the steels. “The stocks went down too far.”
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the Mad Money website? email@example.com