Cramer's 'Stop Trading!': Go for Gold

NEW YORK (TheStreet) -- "When people think about what percentage of their portfolio should be insurance, they should think maybe 20% and do it with a gold stock," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday.

He said the gold stock to own is Gold Fields(GFI Quote), and he agreed with CEO Nick Holland that gold could go higher. He also liked Agnico-Eagle(AEM Quote) and said "you could also do" the SPDR Gold Shares(GLD Quote).

Gap(GPS Quote) "did a great number," said Cramer. He praised the Barclays analyst who'd recommended it before earnings. "That guy nailed it entirely," he said.

Cramer didn't recommend Gap, saying that the trade was on its earnings reports and it could "go to $19, $20, not that much." He preferred Urban Outfitters(URBN Quote) and JC Penney(JCP Quote), which he said is "running ahead of plan" and on track to have a "great year."

AIG(AIG Quote) "was really just an incredibly over-shorted stock," said Cramer. Though ultimately the shorts were right, he said, they "didn't count on Benmosche coming in." Cramer said that incoming President and CEO Robert Benmosche "is a great leader" and that AIG "was too heavily shorted for any good news."

-- Written by Rebecca Corvino in New York.