Jim Cramer's 'Stop Trading!': Get Energized by Owens Corning

Stock quotes in this article: OC , CHK  

Seeking for alternative energy plays? If so, Jim Cramer said he still finds Owens Corning (OC Quote) as the best way to play alternative energy on CNBC's "Stop Trading!"

Cramer discussed how Boone Pickens is informing Americans of the importance of moving toward alternative energy, such as wind power, right now and moving away from foreign oil. Owens Corning can benefit from such a movement toward wind power technology since the company makes composites that go on windmills, stated Cramer. He also said the company makes insulation that can sustainably cut energy use. Although he sees potential with the stock, he warns that the stock has some downside risk since the company is levered to housing.

Cramer also agreed that 1%-2% of our power comes from wind, stating that even if we simply double our wind usage, it would be "a big deal" for those levered to this alternative energy, such as Owens Corning.

Cramer also likes Chesapeake Energy (CHK Quote) and hopes to get the CEO on his show soon.

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At the time of publication, Cramer had no positions in any of the stocks mentioned.

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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