RealMoney Radio: Best Buy Bubble

Jim Cramer told Tuesday's first his "RealMoney" radio show caller that "there is a perception in the market that Best Buy(BBY Quote) is not doing that well.

Raymond James just downgraded the stock and Cramer said that his sources believe sales this month will not be that strong. But he believes that it's the best of breed big-box retailer.

The stock has had a gigantic run, up 30% year-to-date, so Cramer said that he would let it come in before buying the stock.

For those who already own the stock, he said that he would let a little go, adding that Raymond James is a good brokerage that would not idly downgrade the company.

A caller said that he bought Foster Wheeler(FWLT Quote) at $42, a stock that Cramer owns for his charitable trust Action Alerts PLUS. He asked Cramer why he trimmed a bit of his position in the stock.

Cramer said that he has been recommending the engineering and construction company for a long time, and it just had a gigantic move from $43 last week to $50.

He said that he took a little off the table in order to lock in the gain, but that he remains bullish on the company long term.

St. Joe's(JOE Quote) stock is getting hammered because it just reported a horrible quarter, Cramer said. The company guided expectations down and said that business has slowed.

Cramer said that he would listen to the company here, and that it's not giving any hope. He believes the stock could go as low as $45, and that he would stay away from the stock.

He has told listeners to stay away from the automakers, but he told a caller that he still likes Honda(HMC Quote) and Toyota(TM Quote).