Cramer's 'Stop Trading!': Raging Bull Market

"Things are happening so fast in this market," said Jim Cramer on Monday's "Stop Trading!" segment on CNBC. "This market is just a rampant bull market."

He was going to recommend Colgate(CL Quote), which he said reported a "great quarter," as a play on Mexico, until he spoke with Mexico's deputy finance minister, Alejandro Werner. Werner said that while "basic economic services are operating normally" in Mexico, including banks and "major stores," other businesses, such as restaurants and shopping malls, have closed.

Werner said that the worst-case scenario of H1N1's effect on Mexico's economy is that it could cause 0.3% to 0.5% additional negative growth.

Cramer did recommend American Movil(AMX Quote), which "got hit initially" on the swine-flu outbreak. The company "happened to have a really spectacular quarter," Cramer said, and the stock is "attractive given the fact that obviously people are not going out" and instead are making phone calls.

Another stock Cramer was going to recommend is Liz Claiborne(LIZ Quote), which he said "could be in turnaround mode." The company made many of the same changes that Jones Apparel(JNY Quote) made, and after Jones "reported that really great quarter last week," Cramer had his eye on Liz Claiborne.

Goldman Sachs beat him to the punch, though, he said, and recommended the stock before he had a chance.

He said that stocks such as Johnson & Johnson(JNJ Quote), Boston Scientific(BSX Quote) and Abbott(ABT Quote) "are not done, because everybody was kind of banging on them." He said that Abbott, which he owns for his Action Alerts PLUS charitable trust, "had that kind of feel that every day it could go down."