Stop Trading!
Cramer's 'Stop Trading': Dividend Defense
TheStreet.com Staff
01/05/09 - 03:12 PM EST
"I think we're now seeing the ascendancy of the investment bank," Jim Cramer said on Monday's "Stop Trading!" segment on CNBC, referring to Goldman Sachs(GS Quote). "This bank is roaring. It's roaring."
Cramer said that Goldman isn't going to be a deposit bank yet. "I think they want to be the only advisory bank," he said. "And they've got these big mutual funds. People forget they've got these big, big funds."
As for Nordic American Tanker Shipping(NAT Quote), Cramer said he "struggled" to understand "why people do not have this as part of a diversified portfolio." He said people might think it's already up too high and they've missed the boat. "No. That is a good price to pay," he said. "Below $35 is a good price to pay."
Once again, Cramer pushed his dividend strategy. "The fertilizer stocks are hot. Let's stick with dividend plays," he said, mentioning Terra Nitrogen(TNH Quote), which yields more than 11%. "Let's have a little dividend protection," he said, in case the rally ends.