Cramer's Stop Trading! Goldman Bashing Is Ideological (10/20/10)

by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Wednesday October 20.

Cummins (NYSE:CMI), Caterpillar (NYSE:CAT), 3M (NYSE:MMM), Bucyrus (NASDAQ:BUCY), Wells Fargo (NYSE:WFC), Juniper (NYSE:JNPR)

Cramer lamented the way headlines are encouraging investors to sell good stocks, but the stocks themselves tell a story different from those in the newspaper. On tightening in China, industrials and commodities are rumored to be in trouble, but Cramer would buy stocks with China exposure, like Cummins (CMI), Caterpillar (CAT) and 3M (MMM) on declines. Those who can't handle the idea that these stocks might go down a bit before rising should sell right away, because there is going to be another interest rate hike in China, but Cramer thinks this is a great opportunity to pick up Bucyrus (BUCY) cheap.

Wells Fargo (WFC) is a breakout stock, and Cramer commented that the ill-feeling against Goldman had more to do with distrust of banks than of its fundamentals; “It’s not about price. It’s not about fundamentals. It’s about ideology,” he said.

Whoever sold Juniper (JNPR) after its earnings is as "stupid as wood," Cramer said, since the stock moved up from $28 to $32.


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