Cramer's Stop Trading! Why Are We Burning Our Food? (2/24/11)

Includes: DE, FCX, FDX
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Thursday February 24.

FedEx (NYSE:FDX), Deere (NYSE:DE), Freeport McMoRan (NYSE:FCX)

Cramer notes the current market is like that of 1990, when TheStreet is taking its cue from the oil futures and buying and selling is occurring as kneejerk reactions to oil fluctuations. "I'm not going to let oil futures determine my game plan," said Cramer, who recommended picking up good stocks like Deere (DE) and FedEx (FDX) that have gotten hammered and probably won't be sent down lower. While saying these stocks are immunized would be a slight exaggeration, he said stocks that have already reported good quarters and have been sent down may be good buying opportunities.

Freeport McMoRan (FCX) is another example of a good stock that has been taken down and has been behaving like "a total dog" although there is no reason to think copper will decline or gold prices stop going up. Although FCX did not perform well in 2008, a similar environment, Cramer thinks we are better off than we were in 2008.

Cramer reiterated his preference for the adoption of natural gas over ethanol. "Why are we not burning our gas?" he said, "Why are we burning our food?" especially with the rise in food prices.


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