Cramer's Stop Trading! Fallout Shelter or Umbrella? (10/30/09)

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Friday October 30.

Apple (AAPL), Google (GOOG), BP (BP), JP Morgan Chase (JPM), Goldman Sachs (GS), Procter&Gamble (PG), General Mills (GIS), Wellpoint (WLP), McDonald's (MCD), Freeport McMoRan (FCX)

Investors who didn't take profits on Thursday when the Dow gained 200 points were devastated when the Dow gave back 233 points on Friday. Sectors that have been strong are now waning, except for the best-of-breed names such as Apple (AAPL), Google (GOOG), Goldman Sachs (GS) and JP Morgan (JPM). Cramer reiterated his statement that stocks have reached their highs for the year and suggested a flight to safety stocks; Procter&Gamble (PG), General Mills (GIS), Wellpoint (WLP) and McDonald's (MCD) are good places to start. He thinks money will go out of stocks like Freeport (FCX) and into defensive names.

Cramer predicts a 7% pullback: “It’s just not a great time, but that doesn’t mean we have to go in a fallout shelter,” Cramer said. “It’s just, we have to get some umbrellas.”

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Comments

[jimivan1933...:]

How is it that Cramer recommends FCX has a China play & turns around & says smart money will pull out of FCX & go defensive.

Nov 01 10:23 AM

[D. Michael:]

I watched his show on Friday evening and he said that Apple was attractive at the current level.

Nov 02 08:09 AM

[1more4me:]

GOOD LORD!
Cramer says pull out of FCX on Friday- I suppose if we did pull out at 73.00 we would have been saved from that 7% rally it romped up between Monday and Wednesday. I thought his moniker was to buy on weakness- exactly opposite of his otherwise preached principles.

What an imbicile! Just a freakin' show clown...

Nov 04 09:44 AM