Stop Trading!
Cramer's 'Stop Trading!': MasterCard Rewards
TheStreet.com Staff
11/04/08 - 04:41 PM EST
"We're going to elect two presidents," Jim Cramer said on Tuesday's "Stop Trading!" on CNBC. "That's what the market's saying."
On the one hand, all of the plays on a Barack Obama presidency are up, except for biotech. But "big oil" is also up, said Cramer, which is a John McCain play. According to Cramer, the first thing Barack Obama will do if he's elected is to say, "$14.3 billion for Exxon(XOM Quote), nothing for the regular guy? That doesn't seem right."
"It's a natural place to take profits, even if you like the group," Cramer said. "Even if I thought McCain was going to win, I'd probably take some profits." He recommended selling Oil Service HOLDRs(OIH Quote) and Exxon.
MasterCard(MA Quote) had a "monster good quarter," Cramer said. He abandoned it before for Visa(V Quote) but says he wants "to come back to it in a major way." He said he sees the stock hitting $180 within 48 hours.
"I've been a big backer of Visa," he said. "I don't know Visa's numbers, and I want to see those, but MasterCard goes higher."
The worst thing that a retail stock can do right now is "have a number reported, because they're all awful," Cramer said. "Coldwater Creek(CWTR Quote) had a report last week, and that was dirty water."
In fact, Cramer said, "stay away from anything that's actually going to report."