Avoid Tech and Banks, Buy This Sector Instead
The weakness in technology and bank stocks, Cramer said Thursday, has investors overlooking the strength in the agriculture sector.
He referenced a report released on Thursday from the US Department of Agriculture, saying that there is a shortage of crops. Cramer thinks this is why the ag stocks—Deere , Monsanto , Mosaic , Potash , Agrium —we’re the first group to start to rebound after Wednesday’s sell-off.
“Those stocks are in a secular bull market,” Cramer said, “and people shouldn’t lump them in with tech or banks.”
In tech, Cramer told viewers to look for leadership from Apple . If that stock can push higher, it should carry the rest of the sector with it. Also, he said VMware could serve as a leader for tech as well.
Lastly, Cramer reiterated his buy call on gold, citing the precious metal’s growing scarcity.
“This is the era of gold running short,” he said. “That’s why the stocks are so good.”
When this story published, Cramer's charitable trust owned Apple.
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