Jim Cramer's Wall Street Confidential, 6/6/07

Recap of Jim Cramer’s comments on Wall Street Confidential, Wednesday June 6. Click on a stock ticker for more analysis:

Buying on Decline: Johnson Controls (JCI), Verizon (VZ), AT & T (T), Boeing (BA)

Cramer says the market is trading on takeovers and he expects a lull in activity; "We're set for a little pause here, but it won't be drastic and it won't be a big decline," he said, noting that investors are returning to the same tried-and-true stocks like Johnson Controls, Verizon and AT & T. Since people don't know where the market is going to turn, Cramer says, "You have to be bidding at the ugliest moments and you have to be bidding small." For instance, if he wanted 100 shares of Boeing, a "great company," he would bid $98 for 25, and "If you get hit, you get hit. If you don't, too bad." He would continue to buy on the way down. Cramer explained that using a market decline to buy desired stocks is not a bulllish or bearish strategy but is "using the intrinsic nature of the mechanisms in the market to get your stocks at a better price, and that's what I think people should do," Cramer said.

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