Whenever a quarter draws to a close, Jim Cramer likes to take a look at the winners and losers, searching for a stock that piques his interest.
Cramer typically starts with Dow stocks – both the winners and the dogs.
The best performer in the Dow during Q3 was Home Depot. “It’s a terrific play on the comeback in housing,” says the Mad Money host. However, he adds the thesis isn’t new and he already owns it.
Second best was Procter & Gamble. “The stock’s moved gigantically and now needs to rest or pull back,” said Cramer. However if and when it does pullback, Cramer is a buyer.
Finally, there’s Bank of America, which finished the quarter up almost 15%. “While I like it technically on a pullback, I still favor Wells Fargo as the best bank play on housing because of its remarkable 30% mortgage market share,” said Cramer.
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As for the dogs of the Dow, Intel was the number one loser, down 11% but Cramer said “I have no bull case for it, none.”
Behind that was Hewlett-Packard, however Cramer is equally unimpressed. “Nothing there. I just think it is the ultimate value trap."