And gold is making a “tremendous move,” maybe to $1,400 or $1,500 by the end of the year, Cramer said, because money is “going to be plowing into” the precious metal.
In retail, high-end stores like Estee Lauder , Tiffany , Coach and Williams-Sonoma have shown that while there is some weakness in US consumer spending, it is not among the richest Americans. But there seems to be significant spending on the low end, too, he said, in stores like Family Dollar .
It’s the “great middle,” Cramer said, where the shorts are putting on their positions, in Macy’s , Kohl’s and J.C. Penney . The “Mad Money” host disagrees with the shorts, though, saying, “A lot of these retailers have really found ways to be able to insulate themselves” against the recession.
Cramer also noticed the rising share prices of Range Resources , EQT and National Fuel Gas in response to news that EXCO Resource’s CEO plans to take the company private. But NFG is the only one among them that qualifies for the move, as it’s the only company that has hired an investment bank to unlock the company’s value.
“You have to want to sell in order to be able to participate in this rally,” Cramer said.
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