On Thursday, following a strong and broad up day for the market, Mad Money host and former fund manager Jim Cramer stated he saw strong insider buying in many equities this week, at rates higher than he can recall, while also noting that retail withdrawals were very high. Cramer highlighted several companies with strong insider buying and created what he called his stock shopping list part deux, with part 1 being his suggested list of seven equities to watch now.
Equity One (NYSE:EQY), a shopping center REIT, which reported strong numbers this quarter. The chairman bough $5.5 million of the company on Monday, and it offers a 5% yield. Cramer also stated he thinks Federal Realty (NYSE:FRT) is the best REIT in the shopping center industry.
Dominion resources (NYSE:D), a large-cap electric utility, also had strong insider buying, with 5 insiders buying this week, including the CEO and CFO. Dominion has a yield above 4%, with a strong history of dividend growth.
NuStar Energy (NYSE:NS) is a pipeline and storage MLP. NuStar's CEO just bought $700,000 worth of stock. NuStar also has a 7.5% yield, and just announced a joint venture with EOG Resources (NYSE:EOG), Cramer’s favorite oil equity at the moment.
Cramer stated that Windstream (NASDAQ:WIN) had may insider buys, with the Chairman of the board buying 111,000 and two other insiders making sizable purchases.
Cramer also noted that a director of Honeywell (NYSE:HON) picked up $99,000 worth of Honeywell stock this week, and the company now yields 3%, which is where Cramer would start to look at it.
Cramer also commented that much of the strong and broad upward market movement on Thursday appeared to be machine-driven, and investors should remain cautious going forward. H said that now may be a good time to realize some recent gains, if any, if you need to raise cash to sit and wait for better prices that may be coming in this choppy market.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.