Cramer's Stop Trading! Does China Hate Goldman? (6/7/10)

Includes: FCX, GIS, GS, K, PEP, VALE
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Monday June 7.

General Mills (NYSE:GIS), Pepsico (NYSE:PEP), Kellogg (NYSE:K), Freeport McMoRan (NYSE:FCX), Vale (NYSE:VALE), Goldman Sachs (NYSE:GS)

Cramer sees an aggressive move out of cyclicals and an "endless accumulation" of stocks like General Mills (GIS), Pepsico (PEP) and Kellogg (K) while Freeport McMoRan (FCX) and Vale (VALE) are "trading like death." Cramer doesn't see a double dip recession, but stocks seem to be trading that way.

“You just want that trade to unwind,” Cramer said, “because that trade has just taken on too much of a life of its own, I think.”

Cramer says it is too dangerous to bet against Pepsi, because he sees the stock rising from $63 to $70.

Goldman Sachs (GS) might suffer the same animosity in China it has experienced in the U.S. This could spell trouble; “If they really hate Goldman,” Cramer said, “they’ll cut them out of every single IPO.”


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