Recap of Jim Cramer's comments on Stop Trading! Thursday July 24.
Citigroup (C), Washington Mutual (WM), XTO Energy (XTO): “The shorts are battling Citigroup, and the longs are battling XTO Energy,” Jim Cramer said. He commented “banks are the reason we're off” today because people are worried about Washington Mutual, but Citi and XTO are “the flavor of the day.” “Keep XTO and Citi on your screen and you will know the market for the day,” Cramer told viewers.
Occidental Petroleum (OXY), Exxon Mobil (XOM), ConocoPhillips (COP): Integrated oils are higher today. Cramer said “it is hard to sell Occidental when it is selling at 5 ½ times earnings and ConnocoPhillips is selling at 6 times earnings." Sometimes valuation matters. Exxon Mobil at 80 is reflecting $70 oil.
Ford (F), General Motors (GM), Sirius (SIRI),Washington Mutual (WM): Meanwhile, Cramer added Ford “is too speculative for me as are General Motors, Sirius and Washington Mutual.” “Common stock may not be what ends up being your call.”
Terex (TEX): Cramer commented “Terex is a Western Europe weakness play.”
Union Pacific (UNP): And finally, today's rise in the railroad stocks, specifically Union Pacific, befuddled Cramer. “I don't understand how the rails can be going up. They must be being propped up by somebody,” he said. “I’d rather be a seller than a buyer.”
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