Chevron reported one of the worst quarters Cramer has seen, but instead of staying away from the stock, Cramer suggests buying it. The fact that it missed its numbers so terribly but didn't go down proves to Cramer that this is a durable stock. Although he would ordinarily prefer best-of-breed COP, he is making an exception in this case.
Cramer suggests staying away from these companies; no matter how good their numbers are, they keep getting crushed.
Rebuilding with Fortune Brands (FO), Masco (MAS)
Cramer comments that a lot of money can be made from the New York Times, as long as you don't touch the stock. He cites an article from the Real Estate Section, "Sold at First Sight," which discussed the importance of refurbishment before selling a house. Companies like FO and MAS which remodel homes are great investments for a competitive housing market, but they are being brought down with the rest of the sector. Cramer says that these stocks are cheap and that "They belong to a rare club of cyclicals -- those with earnings that are not falling apart."
Cramer says you could have made some serious money if you had followed these picks.
Cramer admits that he was wrong about these picks.
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