Cramer says that people who bought a security stock and sold an airline on Thursday's news of the thwarted terror attack are missing the point, noting that the mentality on Wall Street is "we expect terrorism." Cramer says that the only reason to sell an airlines right now is that they are cyclicals, and that most security stocks, with the exception of KEYW, VAR and LLL, which can be picked up on a pullback, are too high to buy. He suggests defensives, like PG and JNJ, since new restrictions on carry-on luggage might mean in-flight sales of shampoos and soaps. On a side note, Cramer decries the fall of oil on Thursday as "stupid and wrong" and suggests buying XOM on weakness.
Cramer suggests looking for casino plays that are expanding into Asia rather than relying Las Vegas, since many Americans cannot afford to gamble and have moral objections to it. In Macau, gambling tables take seven times more revenue than in Vegas, and Cramer recommends LVS, which has added a casino in Singapore to its Macau operation, or MGM and HET. WYNN has a new casino opening in Macau this fall, and what many people don't realize is that it will have a second phase opening in 2007.
Cramer hosted entrepreneur and motivational speaker, Pat Croce, who has recently teamed up with Donald Trump to build a slot machine parlor in Philadelphia. Croce also owns a museum and a restaurant. He likes NutriSystem and Comcast, and is surprised that CMCSA is in the low 30s. Cramer commented that TRMP will jump $10 if it secures a slot-machine deal.
Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.
Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.