Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and his Wall Street Confidential.BP (BP), Marathon Oil (MRO), General Electric (GE), Transocean (RIG), Halliburton (HAL), Devon (DVN), ConocoPhillips (COP), American Movil (AMX) and AES (AES)
Oil prices are going down, with BP reporting lackluster production and MRO negative, but since oil is in a freefall, "I like to buy a stock in freefall if you have some underpinnings," Cramer said. He notes that GE purchased an oil service outfit and sold off its plastics. Cramer sees GE's acquisition as an indication that people are selling off these companies, but he wouldn't cut and run, but has bought RIG for his chartiable trust, and commented that oil is good for an investment rather than a trade. He likes RIG in particular because it has contracts, and Devon because it may be bought by BP. Cramer says that Halliburton may fall from $28 to $24 or $23 where he would double up his position. He also suggested looking out for stocks like COP which are being thrown out because of general negativity. "People should understand that there can be value-creation when you have a multiple as low as a lot of the oil stocks are," Cramer said, but warned investors not to expect results overnight.
When Aaron Task commented on Venezuelan President, Hugo Chavez's plans to nationalize significant portions of the economy, a move that could affect BP and COP, Cramer replied that this is a long term concern, and the market is focusing on the present situation. However, Cramer admitted that South American Latin American stocks in general will be affected by this move, and suggested taking profits on companies such as AMX and AES at every opportunity.
Apple (AAPL) and Google (GOOG)
Cramer warned viewers about constant bearishness on Apple and Google, and said that there are those who are trying to knock the stocks down. He cautions that it is always a mistake to buy Apple up $1.50. When Task asked if expectations for Apple's iPhone are inflated, Cramer responded that the company's "execution is masterful" and he is never worried that expectations are too high for Apple: "Its upside comes from its own realization that its brands are great."
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