Cramer's Stop Trading! Buy the Heck Out of Citigroup (12/17/09)

Includes: C, KEY, ZION
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment,Thursday December 17.

Citigroup (NYSE:C), Zions Bancorp (NASDAQ:ZION), Key Corp (NYSE:KEY)

Dismissing negativity on The Street about Citigroup's secondary shares, Cramer would "buy the heck out of them...Rarely have I ever seen an option as good as this." He suggested keeping an eye open for potential offerings from Zions Bancorp (ZION), Key Corp (KEY).

While the conclusion from the Yale CEO Summit was that 2010 will be a flat year economically, Cramer disagrees. He expects to see more government spending on rectifying unemployment and finds hope in predictions that the tech sector will be "far stronger than expected" in the first quarter (historically, the sector's weakest time of year). He also notes that "the most GDP-oriented industries" are forecasting rising demand, and pointed to low steel inventories as a sign of hope for that group. Cramer predicts a "tremendous drilling wave in oil and gas."

Concerning the government, Cramer focused on wise moves by Fed Chairman Ben Bernanke and thinks the Republicans will have a stronger voice in countering Obama's proposed reforms that are tough on business.

“I think the negativity will be trumped by…a newfound optimism,” Cramer said, and added, “Washington will not be as interventionist next year.”


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