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Cramer: A Trade on New-Home Sales
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Buy Centex, Cramer said during Monday’s Stop Trading!. He likes the stock ahead of the company’s Aug. 18 merger with Pulte Homes [PHM
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While the market cheered the June new-home-sales number, Cramer took note of one region in particular, the Midwest, which jumped 40%. The move was “incredible,” he said, and the heartland is Centex’s [CTX
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] breadbox.
“These numbers show that that region is back,” Cramer said.
In finance, the Mad Money host called Capital One Financial’s [COF
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] stock is a “battleground.” COF saw a “gigantic rebound last week,” a sign that some investors think the worst is over. But at the same time there is a “huge” buyer of September 29 puts. The credit-card company has shot back to about $30 from $20, and it appears that some people are betting against a continued move higher. Cramer predicted a pullback before COF makes its next leg up in share price.
Cramer praised Agilent Technologies [A
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] for buying Varian [VARI
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]. He likened it to similar deals by Bristol-Myers Squibb [BMY
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], Johnson & Johnson [JNJ
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] and even First Niagara [FNFG
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], whose stocks increased in value post-acquisition. More M&A is likely, he said, when other companies see this kind of positive response from the market.
Lastly, Cramer called Eaton [ETN
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] “overbought.” While ETN one of his favorite stocks, it’s too expensive right now.
“Let’s wait for a pullback,” he said.
Watch the video to find out why Cramer said that buying this latest US Treasurys auction is a “sucker’s bet.”
Cramer's charitable trust owns Bristol-Myers Squibb.
Call Cramer: 1-800-743-CNBC
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