Stop Trading!
Cramer's 'Stop Trading!': Refiners Can Rev
TheStreet.com Staff
11/14/08 - 03:43 PM EST
"Refiners are really breaking out here, and you want to be part of that action," said Jim Cramer on Friday's "Stop Trading!" segment on CNBC. According to him, refiners have bottomed. "This group has just been crushed," he said.
He recommended Marathon Oil(MRO Quote). "Why go with just a pure refiner when you can go with a company that's going to be splitting, I believe?" he said.
Cramer said that a recent piece in Time magazine addressed a "gigantic win against coal for the environmentalists." "Frankly," he said, "if you're trying to build a coal plant in this country right now, you are going to be stopped."
This is bad news for stocks such as Arch Coal(ACI Quote) and Peabody(BTU Quote). "I'd rather be in Exxon(XOM Quote) than in coal," Cramer said.
Cramer said that if you can find a stock with a "high yield and good earnings, you get a double whammy," he said. "Kinder Morgan(KMP Quote) had an even better quarter, and I think it goes to its high."
Also, "the problems at Sprint(S Quote) are great for AT&T(T Quote)," Cramer said. "AT&T is a buy right here."