The action in specific stocks shows the changing sentiment on Wall Street, Cramer pointed on on Wednesday's Stop Trading!. Investors are leaving the defensive plays they'd ridden through the downturn and now are looking for ways to profit off the rebound.
Just look at Parker Hannifin . This industrial company, a cyclical play dependent on a strong economy, jumped despite reporting a poor quarter last Thursday, April 16. Cramer predicted that Procter & Gamble , one of those safer stocks that investors seek out when the market's volatile, will announce "good, stable" numbers next Thursday, April 30, but the stock will get hit anyway. Why? Because Wall Street sees the U.S. economy emerging from a recession over the next six months, Cramer said, and "Procter & Gamble simply doesn't work in that environment."
The Mad Money host endorsed Freeport-McMoRan as a play on China's resurgence, thanks to its $585 billion stimulus plan. Analysts have increased their growth estimates for the country as the new spending has kicked in. Given that, Cramer said, "How can you not want to be in FCX?" He added BHP Billiton to his list of miners worth owning.
Cramer also said he was bullish on Hudson City Bancorp .
Be sure to watch Mad Money's special Back to School Tour episode, as the show rolls into The Ohio State University. Don't miss it Wednesday at 6 & 11PM ET on CNBC.
Cramer's charitable trust owns BHP Billiton and Freeport-McMoRan.
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