Cramer's 'Stop Trading!': A Bad Day
"Today's a bad day. There's no doubt about it," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday. "And it's ahead of a three-day weekend. I don't think the profit-taking's over."
He said that yesterday saw an "explosion" in "weak-dollar stocks" but that those stocks are giving back their gains today.
Since "Street Signs" host Erin Burnett was in Nigeria, Cramer offered a couple of ways to play Africa. He recommended paper company Sappi (SPP) as "a way to be able to play Africa to some degree." The stock yields 5%. Its business, though, which is based in South Africa but is global, "is a little bit of a problem, because it makes glossy paper, and we know that goes into magazines," said Cramer.
He also said he'd own stock in the First Bank of Nigeria, and the way to do that would be with the Market Vectors Africa (AFK). But Cramer cautioned that "everything's so South Africa-weighted."As for mining plays on Africa, Cramer liked Randgold (GOLD) even more than AngloGold Ashanti (AU). Randgold reported a great quarter, he said. "If you want diversification," he said, "then you want gold and you want copper." He said he likes Freeport (FCX) but not at this level. "FCX has run so much," he said. "I sold it at this level for my charitable trust. I can't tell people to come into it here."
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