Black & Decker (BDK), Caterpillar (NYSE:CAT), Illinois Tool Works (NYSE:ITW), AT&T (NYSE:T), Verizon (NYSE:VZ), First Horizon (NYSE:FHN), Countrywide (CFC), Transocean (NYSE:RIG), Schlumberger (NYSE:SLB), Grey Wolf (GW)
Cramer calls Tuesday's cyclical rally an "amazing confluence of great things" and notes the rapid rise of struggling manufacturing stocks such as CAT, BDK and ITW which were presumed dead when they gave earnings warnings two months ago. Recession fears made the rally of T and VZ seem all the more impressive. The rise in FHN and CFC demonstrate that fears over the health of subprime lending and defaults are greatly exaggerated. Since Tuesday's rally precedes a Fed meeting on Wednesday and a jobs number on Friday: "It's hard not to be bullish," he said. Cramer concluded by commenting that he prefers oil service stocks RIG and SLB to natural gas, even GW.
Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and Wall Street Confidential.
Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.
Seeking Alpha is not affiliated with CNBC, Jim Cramer or TheStreet.com