In Wednesday’s Stop Trading!, Cramer expressed some concerns and picked favorites in the emerging markets, made the case for new clean energy plays and comments on some minor upgrades that are having a major impact.

Where To Go In Emerging Markets

With all the buzz about emerging markets focusing on China these days, Cramer is prescribing a healthy dose of caution. When everyone is talking about a country like China, you have to step back for a moment and realize that the China position is no longer a contrarian position, Cramer says.  

And Russia? To say the least, speculating in Russia makes Cramer feel a little uneasy, because the economy wavers between and autocracy and a more American-style market. The country itself is a great contrarian play, but he sees Russia as having the “highest country risk out of any country I’d know to invest in, so I can’t go there.” 

For Brazil, Cramer particularly likes Companhia Vale do Rio Doce and Banco Bradesco , the later of which he thinks “could be on fire, could be next.”

Cramer’s Clean Energy Plays

For this, Cramer is staying in Latin America, picking out Sociedad QM Chile which is one of the largest producers of lithium, which is important for batteries. Cramer sees lithium becoming increasingly important, as many environmental issues may be solved by batteries. “Copper and Lithium will both be big plays,” says Cramer, but he’s hesitant to buy into companies like Owens Corning and wind stocks. These plays are a little more questionable, according to Cramer. On the radar is the market for natural gas, which he says should be included when talking about green energy.

Minor Upgrades With Major Impact

There were upgrades on Wednesday for Procter & Gamble and McDonalds, and these stocks are acting as if they’re small-cap stocks, making big moves on what Cramer sees to have been minor reports. Cramer says to buy P&G and McDonalds, as the swings in the US dollar are ramping up business for these companies.

A previous version of this story listed Rio Tinto as a Brazilian company. The correct firm was Companhia Vale do Rio Doce.

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