Cramer Quick Take: Defense Spending Will Not Be Cut
09/13/12 - 12:10 PM EDT
Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".
NEW YORK (TheStreet
) -- The smart money is betting with the defense stocks, not against them, Jim Cramer told Lindsey Bell at TheStreet.com
He said with defense spending resting solely in the hands of Congress, and Congress needing to be re-elected, no one will stick their necks out, especially given recent events in Libya. Defense spending is a "crowd pleaser," said Cramer.
That's why Cramer has been a buyer of Boeing (BA)
for his charitable trust, Action Alerts PLUS
, after selling shares at higher levels. He said that other defense names, like Lockheed Martin (LMT)
, also become attractive when they yield over 4%.
Watch the full Cramer interview here.
--Written by Scott Rutt in Washington, D.C.
To email Scott about this article, click here: Scott Rutt
Follow Scott on Twitter @ScottRutt
or get updates on Facebook, ScottRuttDC
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC