The expectations of J.C. Penney , Target and others seem low, but Apple , Palm and Research in Motion may hold a different outlook. Cramer emphasized how important it was to realize that consumers aren’t as cash-strapped as they were a year ago.
So “stop freaking out about whether Target had a good quarter or not,” he said.
Cramer also recommended that investors buy Cloud Peak Energy’s IPO this week, calling it a “sleeper” deal. He likes the company’s prospects for two main reasons:
“Coal is here to stay,” Cramer said, “even with Obama.”
The US focus on clean coal is at least partly fulfilled with Cloud Peak, which mines in the Powder River Basin, an area known for its lower sulfur content. Plus, the coal lobby is plenty strong enough to hold sway in Washington, and that will keep the industry a priority for many politicians.
Also, Warren Buffett’s purchase of Burlington Northern Santa Fe was partly an endorsement of coal, a major US export that BNI will move to port. Cramer saw this as Buffett’s admission that the commodity “is going to be with us for a long time.” Especially Cloud Peak’s coal, because it's cleaner and both companies operate in some of the same areas.
“In Buffett we trust,” Cramer said. “Buy Cloud Peak.”
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