Recap of Jim Cramer's comments on Stop Trading! Thursday October 23.
"This is one of the quietest, worst days I've ever seen," said Jim Cramer. He turned once again to dividend plays. "They're getting traction in this market because people are just saying, they need to find companies where the near-term is not disastrous." Investors instead might want to look at dividend-paying stocks like Duke Energy, Southern Co. and ConEd. These names might offer some of the few opportunities in which the near term isn’t “disastrous.”
As for the solar industry, Cramer said, “it’s over.” Duke Energy has cut back on its solar business, and SunPower, Applied Materials and First Solar are all seeing a change in energy priorities now that oil has dropped to $68 a barrel. He didn't have anything better to say about solar stocks.
If a discount, online, tax-advantaged retailer like Amazon.com is under pressure in this environment, Cramer said then the rest of retail is in real trouble. Amazon is a "fabulous company," he said, that has "everything." He said he wouldn't even try to call a bottom in retail. “If Amazon is saying things are slowing, the mall needs to be turned into a bowling alley,” Cramer said. "When Amazon can't do it," he asked, "where does Gap stop? Where does Limited stop?" Cramer said he couldn’t call a bottom in stocks like Gap or Limited, or the sector as a whole for that matter, in an environment this difficult.
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