Jim Cramer's 'Stop Trading!': Buy Goldman

06/18/08 - 03:59 PM EDT

TheStreet.com Staff

Buy Goldman Sachs (GS Quote - Cramer on GS - Stock Picks), Jim Cramer said on CNBC's "Stop Trading!" segment Wednesday. He favors Goldman because the financial services firm is the "only one with a business model" in the sector.

Moving onto Crocs(CROX Quote - Cramer on CROX - Stock Picks), Cramer briefly discussed an upcoming product from the company. He described it as a light, deck shoe with a canvas covering. Unfortunately, said Cramer, neither Goldman CEO Lloyd Blankfein nor Cramer's own daughter like him in the shoe and he is not long Crocs.

Discussing the retail sector, Cramer said that Best Buy's (BBY Quote - Cramer on BBY - Stock Picks) move lower today was "a kiss of death for this group." Cramer feels that the retail sector is the second worst after the banks.

Boeing (BA Quote - Cramer on BA - Stock Picks) was next on the list of stocks to avoid. With the price of crude continually rising, Cramer said "no one wants Boeing." He said that investors would have to wait about 18 months for a move in the stock; however, that is too long in these market conditions, he said.

Cutting to the chase on Lehman Brothers (LEH Quote - Cramer on LEH - Stock Picks), Cramer said that investors should go over its recent conference call. He said that it appears that Lehman does not know what is in its portfolio and the devastating part of the call was an exchange between Deutsche Bank analyst Mike Mayo's and Lehman's CEO. Cramer said it was "dreadful" and the stock has been trading down since that part of the call.

Lastly, Cramer discussed Panera (PNRA Quote - Cramer on PNRA - Stock Picks). Cramer mentioned that he is shocked with the company's performance and that Panera is a great company with a fast-food approach to healthy meals. He said that the company has proprietary products and that its loyal customers allow Panera to raise prices and prevail.

At the time of publication, Cramer was long Goldman Sachs.

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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