Cramer's Stop Trading! The Fed Said Good Things. Buy (8/10/10)

Includes: INTC, LEA, MGA, SMG
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Tuesday August 10.

Intel (NASDAQ:INTC), Magna International (NYSE:MGA), Lear (NYSE:LEA), Scotts Miracle Grow (NYSE:SMG)

Cramer thinks it is good news that the Fed is keeping interest rates at their current level between zero and 0.25 percent and likes its plan to reinvest the principal from mortgage bonds into long-term treasurys. Cramer concluded the Fed is "not the problem" and Bernanke is "on the side of the good guys." The real troublemakers is a Congress obsessed with discussing legislation that will cut into profitability of companies. In sum, Cramer said, "The Fed said good things. Buy."

In spite of concerns over falling PC demand, Cramer would buy Intel (INTC) under $20. He discussed some "monster quarters" from Magna International (MGA), Lear (LEA) and Scotts Miracle Grow (SMG). Of the latter, he said, "I can't believe how good that quarter was."


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