Jim Cramer's Stop Trading! Oil Pure Plays

Investors are rotating out of growth plays such as biotech and pharmaceuticals and into energy-related profit machines such as Baker Hughes(BHI Quote), Jim Cramer said on CNBC's "Stop Trading!" segment Wednesday.

"Baker Hughes has 89% earnings growth. Who needs the kind of pharma growth which is just petering along? Who even needs biotech?" Cramer said.

If you're looking for stocks that represent unhedged pure plays on the price of oil, consider Talisman(TLM Quote) and Nexen(NXY Quote), Cramer said.

"They're not hedged, so if you want to bet against oil, you bet against these companies. If you think oil's gone down enough and is about to come back, you buy these. These are the pure plays; they trade like oil," he said.

Cramer called Bank of America(BAC Quote) a "go-to stock on every selloff" that is "on everyone's list of top-tier banks." The company set a $12 billion share buyback earlier Wednesday.

"They know more than we do about the stock," Cramer said, adding that concerns about branch saturation are overblown. "I think there's more room" to expand.

Cramer said lenders such as Accredited Home(LEND Quote) and Countrywide(CFC Quote) can be viewed as plays on blowout real estate numbers like this morning's home sales report. "If you're willing to take Toll(TOL Quote), Lennar(LEN Quote) and KB Homes(KBH Quote), you should take Countrywide," he said.

Cramer also contrasted Titanium Metals(TIE Quote), whose stock gets 41 times earnigs, and UnitedHealth(UNH Quote), whose stock gets 14 times. "My playbook says you should be selling Titanium and buying UnitedHealth."