J. Crew (JCG) was the only stock pick Cramer offered on CNBC's "Stop Trading!" segment Tuesday, but its quarter was so good that Cramer had CEO Mickey Drexler sign a conference call transcript as a keepsake.
"The guy's my hero," Cramer said, explaining his fanaticism. "It was a great quarter."
During the remainder of the segment, Cramer discussed the continuing liquidity crisis.
The matter comes down to CEO confidence, Cramer believes. "If they have liquidity ... why are the cancellations so great? ... People are talking about 30%" of loans ending in foreclosure, Cramer said.No one knows how bad things are, he said. "We can't loan to this level of value, and we can't get appraisal," he said. "In the Toll Brothers (TOL - Get Report) call,