The uncertainty surrounding President Obama’s health-care plans has lingered so long that any news at all might be welcome news for the sector’s stocks. The group has been hit especially hard as Wall Street waits for the Washington to work out the exact details.
“Just having clarity could be good,” Cramer said during Tuesday’s Stop Trading!, even if the resulting legislation is a negative for these companies.
The visibility might make a stock like UnitedHealth , which is up despite the Dow’s second down day in a row, more attractive. Cramer thinks UNH’s performance is “speaking volumes.”
“I don’t trust the group yet,” he said of health care, “but as I get clarity I will like them.”
Elsewhere in the market, a number of stocks are moving toward their option strike prices, namely JPMorgan Chase , which Cramer said could shoot to $35 if the June 35 puts are sold. Bank of America and General Electric seem to be edging to their strike price of $12.50 as well.
“Stay tune for expiration,” Cramer said. “It’s in charge when the volume is this light.”