Jim Cramer's 'Stop Trading!': Buy Costco
Buy Costco (COST), Jim Cramer said on CNBC's "Stop Trading" segment Monday.
Cramer said that the retailer, along with VF Corp. (VFC), is a leader in the sector. "I was too negative about all of retail last week," Cramer said. He said he also likes TJX (TJX). "VF Corp is doing better than its cohort," he said.
The most important thing today is the bullish tape, Cramer said. He pointed out that even though MBIA (MBI) has lost the capital it recently raised, it's up. "The tape is being colored by bulls," he said. FedEx (FDX), up today after issuing bearish guidance, is another example, Cramer said.
Cramer said the tech sector is providing leadership. "Research In Motion (RIMM) is great. Apple (AAPL) is great," he said. He reminded viewers to own Apple shares until the company releases its 3-G phone. He also said that MasterCard (MA) is showing strength in the financials sector.As shares of Clear Channel (CCU) ticked higher on a potential settlement of its buyout deal, Cramer said that another radio deal with Cumulus Media (CMLS) didn't work out. "This is remarkable action," Cramer said. He said that in spite of his objections, rallies like the one today do occur.
Jim Cramer writes about all the stock trades in his charitable trust for TheStreet.com in Action Alerts Plus. Recent stocks he's traded in this account include Schering-Plough (SPG), Yamana Gold (AUY) and Inverness Medical (IMA).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV