Cramer's Stop Trading! This Is One of the Greatest Rallies in History (3/27/09)

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Includes: APA, APC, BAC, DHI, DVN, JPM, KBH, PHM
by: Miriam Metzinger

Stocks discussed Jim Cramer's Stop Trading! TV Program, Friday March 27.

Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), Anadarko Petroleum (NYSE:APC), Apache (NYSE:APA), Devon Energy (NYSE:DVN), KB Homes (NYSE:KBH), DR Horton (NYSE:DHI), Pulte Homes (NYSE:PHM)

Cramer isn't worried about remarks from Bank of America CEO Kenneth Lewis and JP Morgan CEO Jamie Dimon that March was weaker than January and February. He thinks the decline is due to the banks' having been short the first two months and that they had to change their direction during the upturn. Cramer is a bull on the return of investment banking. He is not concerned with the decline in the sector in general because there is a relaxation after a real rally; in a mere bear market rally, banks would just keep going, and in one swoop, would get cut in half. Cramer thinks this isn't merely a real rally; "This has been one of the greatest rallies in history," he declared.

Cramer is also not concerned about the decline in natural gas, either. After Anadarko, Devon Energy and Apache have been up so dramatically, "how can they not take a break?"

KBH's quarter was a "thing of beauty." Cramer doesn't think KBH is in a vacuum, but other good homebuilders such as Pulte and DR Horton are also buys.

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