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Jim Cramer's Stop Trading! Buy Grant Prideco

If you want to speculate on a bottom in the hard-hit homebuilders, buy Pulte (PHM - Get Report), Jim Cramer said Friday on CNBC's "Stop Trading!" segment.

Cramer said the speculation that billionaire Warren Buffett is looking at the sector isn't "nutty," but he said investors hoping to play a possible Buffett deal should buy Pulte, which has a national focus, rather than Hovnanian (HOV), which is more of a regional player and therefore less likely to be of interest to a big-picture guy like Buffett.

Cramer stressed that he isn't recommending any of the homebuilding stocks, nor would he short them. He said Friday's big rally in KB Home (KBH - Get Report), Beazer (BZH), Lennar (LEN - Get Report) and Centex (CTX) shows how hard it is to make a play in either direction on these stocks, whose fundamentals remain poor with house prices slipping and inventory rising.

Cramer also said it's time to buy Grant Prideco (GRP) in light of Friday morning's comments from GE (GE). "It's time to step up," Cramer said.

At the time of publication, Cramer had no positions in stocks mentioned.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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SYM TRADE IT LAST %CHG
KBH $14.98 1.50%
LEN $46.51 0.30%
PHM $19.94 0.33%
CTX $26.28 0.11%
AAPL $130.33 -1.70%

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