Jim Cramer's 'Stop Trading!': Stocks That Are Up

07/01/08 - 03:21 PM EDT

TheStreet.com Staff

"The market is showing you something" said Jim Cramer when he appeared on CNBC's "Stop Trading."

This morning all the indices opened up in the negative territory and lasted that way for most of the day. But recently the markets turned around and are up. "This is a market where all hope has been given up, people are getting the feeling of 'I'm done,'" Cramer said describing the market sentiment. He also stated that if you told him this morning that the markets would be up at 2:45 p.m., he would not have believed it. But the market is in positive territory and he gave a list of stocks trading strongly today.

Lehman Brothers (LEH Quote - Cramer on LEH - Stock Picks) was up 7% after being upgraded to overweight by Morgan Stanley (MS Quote - Cramer on MS - Stock Picks). CIT Group (CIT Quote - Cramer on CIT - Stock Picks) was up sharply by 26% for announcing it will sell its manufactured-housing portfolio and home-lending unit. He also mentioned how Apple (AAPL Quote - Cramer on AAPL - Stock Picks) and Research In Motion (RIMM Quote - Cramer on RIMM - Stock Picks) were both up about 5%. He said the market is "showing you something" and that "I'm liking [the market] here."

At the time of publication, Cramer was long Morgan Stanley.

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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