Recap of Jim Cramer’s comments on Market Minute, Wednesday December 20. Click on a stock ticker for more analysis:
Best Buy (NYSE:BBY), Circuit City (NYSE:CC), Exxon (NYSE:XOM), Apple (OTC:APPL), Oracle (NASDAQ:ORCL), Fed EX (NYSE:FDX), Altria (NYSE:MO), Colgate (NYSE:CL), Procter & Gamble (NYSE:PG), Toyota Motor (NYSE:TM), New York Stock Exchange (NYSE:NYX), Goldman Sachs (NYSE:GS), Ford (NYSE:F), Sotheby's (NYSE:BID), Bank of America (NYSE:BAC), Valassis Communications' (NYSE:VCI), Advo (AD): Cramer observed that the performance of BBY and CC is an indication of strong consumer spending, adding: "As soon as you cut price for anything in this market, the consumer is ready." Since CC is losing a lot of its TV sales to BBY, Cramer suggests buying BBY. Cramer attributes the reverse in the market (although oil is up) to end of the year buying and that Monday's sellers are finished; "Do not forget how little stock there is around. So when the futures trade up, they are able to move absolutely everything."
Cramer noted that futures did trade up and added that he would pick up oil majors like Exxon, since mutual funds are doing the same thing. He recommends buying Apple at $86, Oracle, and FedEx after it comes down, and says that the reason he is interested in these "broken situations" is that "Everyone needs a bargain to get in because then they feel like they've missed it. They don't want to show that they don't have enough equity in an unbelievable Dow year."
Cramer noted that many companies reported that a weak dollar helped them in terms of translation, and believes that this is the reason Altria, Colgate and Procter and Gamble are too low. He suggests looking at TM, NYX and GS, adding that GS can ramp as the window is stil open to sell, that it had a great quarter and is cheaper than comparable stocks. He thinks that the NYX's merger with Euronext will be worthwhile in spite of the lack of sponsorship. Cramer warns against Ford upgrades because the company has to do some banking. He commented that BID looks cheap, BAC gave a good report and that VCI's merger with AD is at the right price.
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