Sign of a Housing Turnaround?

Home Depot on Wednesday raised its fiscal 2010 earnings guidance for the second time in two months, citing strong sales of electrical and plumbing product.

Cramer said the increase is plumbing sales is "very bullish" for the No. 1 U.S. home-improvement retailer . In earnings conference call after call, Home Depot has been bearish on housing because they haven't seen large ticket items being bought. But Cramer said the rise in plumbing sales could be the beginning of a turnaround.

If people are buying homes with plans to flip them, for example, they're not going to buy plumbing, he said. They'd focus on the aesthetics. People buy plumbing when they've bought a used home, which needs an upgrade.

Although the retailer said large ticket items aren't selling, Cramer thinks Whirlpoolstill has "little downside and a lot of upside" on the uptick in plumbing sales.

Elsewhere in the market, Cramer praised Apple. He thinks it's a "revolutionary" company, which is changing how people consume content. His kids, for instance, prefer to watch video content on the iPad instead of on television. Meanwhile, it's stock continues to have momentum.

When this post was published, Cramer's charitable trust owned Apple.

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