Cramer's Stop Trading! Wells Fargo Is Telling the Truth (7/30/10)

by: Miriam Metzinger

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

Williams Sonoma (NYSE:WSM), Fortune Brands (FO) Ethan Allen (NYSE:ETH), JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC), Potash (NYSE:POT) Deere (NYSE:DE)

Even though the average consumer isn't going to follow the Clintons' lead and buy $15,000 air conditioned Port-O-Potties for their chlldren's weddings, one advantage of the extravagance of the Chelsea's wedding is it might be reflecting the consumer's greater willingness to spend; “I think a higher-end Port-O-Potty may be a sign of people feeling better,” Cramer said. If the Clinton wedding was not enough of an indication, data from Williams Sonoma (WSM), Fortune Brands (FO) and Ethan Allen (ETH) show that high-end retail is doing well.

Amid skepticism, JPMorgan (JPM) is calling for a housing shortage for 2012. Housing leader Wells Fargo (WFC) is also seeing an increase in cash bids for homes; "If you want to solve this housing problem, bring HUD together with the big banks, " said Cramer, who added that Wells Fargo is an excellent lender and is cleaning up its bad paper. " Wells Fargo is telling the truth," he added.

Cramer noted that Potash (POT) was upgraded by Citigroup and Deere (DE) is performing well. With ethanol expected to become a political issue in September, these stocks are worth watching.


Jim Cramer was up 31% in 2009. Click here now to sign up for Jim's Action Alerts PLUS and trade alongside him. Special discount for Seeking Alpha users.

Get Cramer's Picks by email - it's free and takes only a few seconds to sign up.