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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Monday April 20.

A New Cycle Corning (NYSE:GLW), Intel (NASDAQ:INTC), JP Mo:rgan (NYSE:JPM), Nokia (NYSE:NOK), Best Buy (NYSE:BBY)

Monday's decline was not a concession to the bears but just a another temporary dip in what seems to be turning into a bull market. Cramer gives some of the credit to Obama for making his rhetoric more pro-stocks than it was his first weeks of office, and an easing up on his more radical reforms that are not directly relevant to an economic recovery. Cramer observed that people are talking less about nationalizing banks, and government reforms are already helping financials like JP Morgan. Several sectors are seeing a surge in orders and a decline in inventory, a trend discussed by Intel, Corning, Nokia and Best Buy on their conference calls. "A new cycle is struggling to emerge, it just needs a little more time," said Cramer.

Xinhua China 25 (NYSEARCA:FXI), Nordic American Tanker (NYSE:NAT), JP Morgan Chase (JPM), Goldman Sachs (NYSE:GS), GE (NYSE:GE), Emerson (NYSE:EMR), Home Depot (NYSE:HD), Lowe's (NYSE:LOW), Sears Holdings (NASDAQ:SHLD), Research in Motion (RIMM), Apple (NASDAQ:AAPL), Qualcomm (NASDAQ:QCOM), Hewlett Packard (NYSE:HPQ), Abbot Labs (NYSE:ABT), Pepsi (NYSE:PEP)

Cramer said Monday's 290 point decline in the Dow provides an excellent buying opportunity and thinks there will be more dips on the rocky road to recovery. China will be a big driver of the world economy, but since FXI is up, Cramer would look to infrastructure, mining, oil stocks that yield more than 4% and dry bulk shipping such as Nordic American Tanker as ways to play China.

Cramer's favorite financials are Goldman Sachs and JPM. While Cramer wouldn't comment on CNBC parent-company GE, he thinks Emerson is similar to the conglomerate and has an attractive yield. He is still sticking by his thesis of an incipient housing bottom and would play it with Home Depot, Lowes and for those who don't mind risk, Sears. Tech picks include Apple (but on a pullback), Qualcomm, Hewlett Packard and Research in Motion. Those who still want a defensive stocks should take a look at Abbot Labs for its generous yield and Pepsi.

Mad Mail: URS Corp (NYSE:URS), Aecom Technology (NYSE:ACM), Permian Basin Royalty Trust (NYSE:PBT), Comcast (NASDAQ:CMCSA)

Cramer told one viewer that URS is a "serial misser" of its quarters and thinks Aecom is better on a pullback. Concerning Permian Basin Royalty trust, Cramer told another viewer that when the company gets down to having 5 years of reserves (it has nearly seven now) the stock price may decline and he recommended reading the company's quarterly reports. Cramer discussed the importance of cash flow, which for some stocks, like Comcast, may be a more accurate indicator of value.

Cleaning House

Cramer says he will believe the market is once again safe for trading with the reinstatement of the uptick rule, a ban on naked short-selling and indictments of those who helped cause the current problems.


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Source: Cramer's Mad Money - A New Cycle (4/20/09)