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Stocks discussed on Jim Cramer's Stop Trading! TV Program, Wednesday April 23

Parker Hannifin (NYSE:PF), Procter &Gamble (NYSE:PG), Freeport McMoRan (NYSE:FCX), BHP Billiton (NYSE:BHP), Hudson City Bancorp (NYSE:HSBC)

Investors are running from defensive stocks and into cyclical names, according to Cramer. He cited Parker Hannifin's pop in spite of its weak quarter and predicts that while Procter and Gamble will probably report a good quarter, the stock will get taken down on the prevailing expectation of a recovery; stocks like Procter do well when the economy is slowing.

Cramer is bullish on Freeport McMoRan as a play on China's stimulus plan ("How can you not want to be in FCX?") and also likes BHP Billiton. His pick in the financial sector is Hudson City Bancorp.

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Source: Cramer's Stop Trading! How Can You Not Want to Be in Freeport? (4/23/09)