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Jim Cramer's 'Stop Trading!': Buy National Oilwell Varco

TheStreet.com Staff

"It's NOV down $2 that most intrigues," Cramer said. He also recommended playing alternative energy plays. "I also think the bet on wind is paying off," he said.

He said that lender CIT (CIT Quote - Cramer on CIT - Stock Picks) is "definitely negative" on GE's earnings report.

Cramer disclosed that he owns GE stock but still wants to try to make money off the company's quarter.

On Intel (INTC Quote - Cramer on INTC - Stock Picks) and the rest of the tech sector, Cramer said that "People are saying, 'Oh [tech stocks are] not going down a lot, so maybe I'll recommend them.' You cannot buy tech in the month of April expecting that you can handle the next two quarters," he said. "Tech is just wrong here."

Cramer called Intel "dead money." However, he did note that "AMD (AMD Quote - Cramer on AMD - Stock Picks) is so bad that if I were a customer of AMD I would be calling Intel and saying I need a backup supplier."

Tech is largely a play on GDP growth, which is wrong for this environment, Cramer said. "You can't hide in tech. You can hide in Procter (PG Quote - Cramer on PG - Stock Picks), you can hide in Coke (KO Quote - Cramer on KO - Stock Picks), you can hide in Pepsi (PEP Quote - Cramer on PEP - Stock Picks), but you cannot hide in tech."

Cramer was also bearish on Google (GOOG Quote - Cramer on GOOG - Stock Picks). "I don't know, when you have Microsoft (MSFT Quote - Cramer on MSFT - Stock Picks) and Yahoo! (YHOO Quote - Cramer on YHOO - Stock Picks) and News Corp. (NWS Quote - Cramer on NWS - Stock Picks) and they've all decided they want to end the dominance of Google." He also decried Google's "hiring binge," saying, "That's just not a business model. ... AMR (AMR Quote - Cramer on AMR - Stock Picks) not being able to fly is probably hurting their hiring binge," he said. "That's Google's strategy right now. That's not how you make money."