In retail, Ralph Lauren is up 11% today, Cramer thinks partly due to a short squeeze. But he’s predicting the stock goes higher.
“There's big money going into that,” he said of RL. “I think you get a second day” to profit from the move.
Cramer admitted he was too negative on fellow retailer VF Corp. With Ralph Lauren doing so well, though, “you don’t leave” VFC.
Investors might want to get in on Nucor as its share price has virtually stalled since the company’s secondary offering. Cramer expects the stock to move higher since the steel market’s so tight. Elsewhere in metals, demand for iron makes Cleveland-Cliffs an attractive buy, but Cramer recommended waiting for the stock to pull back first.
Lastly, American International Group and Wachovia Bank are “serial needers of capital,” Cramer said, adding he was in disbelief that AIG upped its dividend.
“Fire [CEO] Marty Sullivan and you might pick up two points,” Cramer suggested to AIG’s board.
Wachovia Bank is down at least partly due to negative market reaction to the company's $25 billion acquisition of regional bank Golden West.
“This is just one of the dumbest acquisitions ever,” Cramer said, “and they're just paying for it.”
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