Jim Cramer's Best Blogs

Then there are the techs that react well to the decline in commodities, and the financials that get the pressure taken off by the Fed. The issue with both of these, unlike the PGs of the world, is that they offer no assurance that the earnings are going to come through. I think Qualcomm (QCOM Quote) has the best visibility, and I believe that Cisco (CSCO Quote) is so low you could catch a little bounce, but that's a tough call.

The brokers and banks are suffering from huge dilution for the most part, but if the worst is over in terms of raising capital, then I continue to believe that the July 15 bottom will hold and the good ones can build on their gains. While some of the bad ones will go out of business, the Fortress Four -- U.S. Bank (USB Quote), Bank of America (BAC Quote), JPMorgan (JPM Quote) and Wells Fargo (WFC Quote) -- are going to go substantially higher.

Then there are the others, the retailers and restaurants that will benefit from the inevitable lower price at the pump. That's the toughest call of all. I think that you have to go with the ones that have good profiles already: McDonald's (MCD Quote), Wal-Mart (WMT Quote), Jones Apparel (JNY Quote) and VF Corp. (VFC Quote). There's some valuation underpinnings in Nordstrom (JWN Quote) and Kohl's (KSS Quote) and JC Penney (JCP Quote), but nobody seems to care at all, so I can't recommend them.

I believe the best restaurant chains that are not fast food, notably Darden (DRI Quote) and Panera (PNRA Quote), can be bought, but you are going to have a lag between the pump's decline and now, and that will make these much more dicey. Brinker (EAT Quote) just reported a decent number, add that to the list. I would love to buy Yum! Brands (YUM Quote), but the commodity lag won't let them have a good quarter, although they have already tempered expectations.