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Jim Cramer's Stop Trading! Buy National Oilwell

TheStreet.com Staff

Buy National Oilwell Varco (NOV) "right here, right now," Jim Cramer said Tuesday on CNBC's "Stop Trading!" segment.

Cramer said the oil-rig builder "has a sanctioned monopoly" and is printing money "like the U.S. Mint." He expects the stock, up $4 Tuesday to $64 and change, to hit $70 "in a heartbeat."

Cramer also likes FedEx (FDX), which he called a cheap stock that's "best in show." Cramer expects the company to benefit from another stumble by rival UPS (UPS) and to surge 30% from a recent $114.

Last but certainly not least, Cramer reiterated his strong buy on Countrywide (CFC), citing Tuesday's news of another bankruptcy in the subprime lending arena. Cramer said the shakeout in subprime means investors should buy the so-called best-of-breed player, Countrywide, which Cramer said will be taking market share.