Stocks discussed on Jim Cramer's Stop Trading! TV segment, Friday May 7.
Apple (AAPL), Procter&Gamble (PG)
Although Cramer believes Thursday's extreme decline in stocks was due to a technical error, he acknowledges many do not agree with this thesis and blame European economic problems. In any case, Cramer doesn't think the current market conditions are ideal, but he would still be on the lookout for quality stocks, such as Apple (APPL) which can be bought at a bargain; "The iPad 3G sold out in one week," he observed. Procter&Gamble (PG) saw major declines early in the day on Thursday, in spite of its excellent quarter and recent dividend hike. Even though the stock rose later to $60, it is still inexpensive.
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