Jim Cramer's 'Stop Trading!': Magellan Can Weather the Storm

Jim Cramer looked at some of the names in Fidelity's newly reopened Magellan fund on CNBC's "Stop Trading!" segment Monday.

"I've known Harry Lange for close to 20 years. ... He's a fabulous manager," Cramer said. What's more, "Harry's names are so right given the selloffs that we've had."

Cramer believes one of the fund's names, Nokia (NOK Quote), is underrated. "Nokia just went down ... under a misperception that it was getting killed. Nokia is the winner."

Cramer added that search behemoth Google (GOOG Quote) is "just resting" ahead of its earnings report.

Of Corning (GLW Quote), Cramer said "Everyone is panicking." Cramer owns Corning for his charitable trust, Action Alerts PLUS.

Cramer couldn't get behind all of Magellan's names, however. "The one that is the true glass-half-full for him and half-empty for me is Staples (SPLS Quote). I just don't like retail at all."

To conclude, Cramer reaffirmed his belief in energy and agriculture plays, saying that Canadian Natural Resources (CNQ Quote) was "so right." He added that Mosaic (MOS Quote), John Deere (DE Quote), Agrium (AGU Quote) and Monsanto (MON Quote) are still solid stocks.