Cramer’s got three breakout stocks he’s recommending in this breakout market: Apple , Boeing and Deere . These are the market leaders, he says, and there are major things happening in all three stocks: Apple is riding high on next month's iPhone release and Boeing is at cruising speed through this latest aerospace cycle.
Today was the first day uranium futures began trading on the NYMEX, and with all the hype, Cramer is skeptical. Uranium is best traded as a derivative if you’re going to trade it at all, he says. There have been so many tops created by futures trading on something new; why not just wait until the stocks come in?
Alcoa announced a hostile takeover for Canadian aluminum rival Alcan today, helping to solidify Cramer’s theory that practically all the companies in the metals space are for sale. He likes Cleveland Cliffs – an iron company which could be well-positioned if iron runs in short supply, Cramer says. Even though CLF is expensive compared to where it was a few months ago (the stock is trading at its 52-week high right now), he thinks it’s still the best trade in the sector.
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