Opportunity Appears, If You Only Look

Some sideshows are beginning to seem interesting again. McDonald's (MCD - commentary - Cramer's Take) has been having a whopper quarter -- so to speak -- and I have to believe that with the incredibly weak dollar, you are getting a great opportunity. We just bought a little for Action Alerts PLUS.

We know that Wal-Mart (WMT - commentary - Cramer's Take) is having a grand old time because of the consumer trade-down, and that's been pushed down mightily.

The endless assault on the drug stocks, particularly the biotechs, seems to be running out of steam, and Celgene (CELG - commentary - Cramer's Take), Genentech (DNA - commentary - Cramer's Take) and Gilead (GILD - commentary - Cramer's Take) are attracting buyers, the latter close to its 52-week-high.

You can see MedcoHealth (MHS - commentary - Cramer's Take), Cardinal Health (CAH - commentary - Cramer's Take) and Quest Diagnostics (DGX - commentary - Cramer's Take) rallying, another cohort that's struggling to put in a recession bottom.

With the oscillator so darned negative and with so many stocks just down so hard and the miserable quarter almost over, the buyers are kicking the tires. And in some cases buying.

The reversal in oil will only make it even more positive. Decent time. Really way too oversold. The most in two years. And it has created too many bargains to overlook.

At the time of publication, Cramer was long McDonald's and Wal-Mart.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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