Cramer's Stop Trading! Let the Panic Pass (2/22/11)

 |  Includes: AAPL, ACM, GG, HD
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Program, Tuesday February 22.

Apple (NASDAQ:AAPL), Home Depot (NYSE:HD), Goldcorp (NYSE:GG), Aecom (NYSE:ACM)

With Apple (AAPL) down, the question arises whether to buy it on weakness or to wait. Cramer would sit on the sidelines until the stock has stopped being battered by the incessant rumor mill. He might consider buying when the stock shows signs of not declining on a rumor.

Everyone is calling for a pullback, and Cramer says he is "not going against the grain." He confessed charts looked overextended by the end of last week, and it wouldn't take a huge disaster to send the market down. "I always said the Achilles' heel of this bull market is $4 gas." Cramer would buy gold stocks like Goldcorp (GG) and domestic drillers, but on most other stocks he would wait to buy, with Home Depot (HD) as one exception. While he likes industrials, he would also wait on Aecom (ACM), even though it is down 7%. Cramer thinks $24 is a buying target for ACM. "It has had a big run. Let's have panic on top of panic and then we can buy this stock."


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