Editor's note: Jim Cramer will present his 2009 stock outlook for the first time at TheStreet.com Investment Conference on Saturday, Oct. 25. Click for details.
Now they come after the
Procter & Gambles(PG Quote - Cramer on PG - Stock Picks) and the
General Mills(GIS Quote - Cramer on GIS - Stock Picks) and the like, betting that the action will be better in the cyclicals with all of this money being printed worldwide.
Commodities are also coming back because of reflation. And we have to feel that many of the infra and ag names are finally sold out by the hedge fund redemptions.
Here I am speaking of a
Freeport McMoRan(FCX Quote - Cramer on FCX - Stock Picks), with its good yield and a belief that the hedge funds are at last done.
I don't buy it. I like a balanced portfolio, but I want to buy the GIS/PG all the way down because we are
going into a recession, not going out of one. These companies pay dividends, raise dividends and have great commodity tailwinds.
Colgate's(CL Quote - Cramer on CL - Stock Picks) down a lot too, and I am liking that one.
I know they have fallen out of favor because everyone was hiding in them, but I really think that these stocks are banks, just banks that can self-finance, and that's a real positive.
I would not be surprised if they kept coming down, but I would buy them down all of the way. They aren't going away ... unlike everything else these days where you can argue bankruptcy for many is coming in a recession.
Safety will come back as a theme if only because the earnings of these companies will be good six months from now. I can't say that for a lot of other companies for certain.
Random musings: More nonsense from commentators: When are the private investors going to show up, and isn't it time for the government to step back? They obviously don't know that the Great Depression is on the table and the private sector isn't big enough. ...
XTO(XTO Quote - Cramer on XTO - Stock Picks) down so badly on an insider sale.
Chesapeake(CHK Quote - Cramer on CHK - Stock Picks) is insider buying and nobody cares. Check out that Chesapeake convertible preferred. That's a winner. ... Hedge fund names
Monsanto(MON Quote - Cramer on MON - Stock Picks),
Jacobs Engineering(JEC Quote - Cramer on JEC - Stock Picks) and the like, finally going up. Tells you the sellers are done. ... They are forcing
KeyCorp(KEY Quote - Cramer on KEY - Stock Picks) and
Sovereign(SOV Quote - Cramer on SOV - Stock Picks) to go to the federal government. ...
Aflac(AFL Quote - Cramer on AFL - Stock Picks)? Is that one short of capital? ... Lot of people still pillorying me for saying on Monday that you should take money out of the market. Maybe they are not worried about
Citigroup(C Quote - Cramer on C - Stock Picks),
GM(GM Quote - Cramer on GM - Stock Picks),
Ford(F Quote - Cramer on F - Stock Picks),
Morgan Stanley(MS Quote - Cramer on MS - Stock Picks),
Comerica(CMA Quote - Cramer on CMA - Stock Picks), Sovereign,
Prudential(PRU Quote - Cramer on PRU - Stock Picks),
Hartford Financial(HIG Quote - Cramer on HIG - Stock Picks),
MetLife(MET Quote - Cramer on MET - Stock Picks),
Principal Financial(PFG Quote - Cramer on PFG - Stock Picks),
Ameriprise(AMP Quote - Cramer on AMP - Stock Picks),
Bank of America(BAC Quote - Cramer on BAC - Stock Picks),
Wachovia(WB Quote - Cramer on WB - Stock Picks),
XL Capital(XL Quote - Cramer on XL - Stock Picks) and some others.
At the time of publication, Cramer was long Freeport McMoRan, General Mills, Procter & Gamble and Morgan Stanley.
Jim Cramer
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