Further, in tech Cramer said he likes Cisco (CSCO Quote - Cramer on CSCO - Stock Picks), Dell (DELL Quote - Cramer on DELL - Stock Picks) and Hewlett-Packard (HPQ Quote - Cramer on HPQ - Stock Picks), which he also owns for his charitable trust.
And in the health care industry, his pick is
Celgene (CELG Quote - Cramer on CELG - Stock Picks).
Where the Money Goes
As more and more investors give up on the retail, housing and finance stocks, the money in the market is going to migrate toward tech, Cramer told viewers. "These tech stocks don't need credit to go higher -- they just need the calendar," he said, and historically, tech has outperformed during this time of the year.
When the market is really in straits, people need something speculative to keep them interested in the game, Cramer said. A tech spec with a floor underneath it (not a cold linoleum one), is
Sycamore Networks (SCMR Quote - Cramer on SCMR - Stock Picks).
Cramer stressed that he is not telling investors to buy it tomorrow. In fact, that might be a bad idea, Cramer said. But people should take a look at it, he said, and if they decide to buy it, they should use limit orders.
Sycamore, a player in a niche of telecom equipment, is almost a pure play on optical services and is "far from best of breed," Cramer said. But he likes it for several reasons.
First, Sycamore has no backers on the Street right now, but he believes that this should change. He also likes the stock's floor. It's a $4 stock, he said, but it has the equivalent of $3.23 a share.
TheStreet.com Staff
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