Stop Trading!
Cramer's 'Stop Trading!': Own Owens Corning
TheStreet.com Staff
01/08/09 - 03:29 PM EST
"We've got to get things moving here," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday. "We've got to face the fact that we're not doing so well as a country."
Just before the segment, Cramer and host Erin Burnett had learned of a possible deal with Citigroup(C Quote) that would allow courts to alter the terms of mortgages. Cramer said he needed more facts, but that this sort of deal could signal a "major turn in housing." "This would be major," he said. He stressed that "you need principal adjustment," as well.
Cramer offered up a few names for viewers. "You want to be in Trinity(TRN Quote)," he said, and he also recommended Quanta Services(PWR Quote), which he owns for his Action Alerts PLUS, and Owens Corning(OC Quote). "Those are the plays."
He said that Energy Conversion Devices(ENER Quote) has come down a lot, but "I'm wary because you throw a lot of orders to Caterpillar(CAT Quote), not to Energy Conversion Devices."