NEW YORK ( TheStreet) -- "We have a lot of things happening today that are very mixed," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday. "Today is a day when literally you're seeing the haves and the have-nots assert themselves as opposed to economic plays."
For example, he said, Nucor (NUE), a "very important industrial manufacturer," is not doing well, whereas 3M (MMM) is. And both 3M and McDonald's (MCD) are up, he said, even though "one needs a strong economy worldwide and one doesn't."
"There's a boom-busting element today that I like," Cramer said. "This is a day that's not hostage to oil, which I absolutely love." And he also likes that he's not hearing "as much chatter about the next people arrested in the hedge fund business."
Turning to the hot topic of corporate paychecks, Cramer said that speaking with Ron Hermance last night of Hudson City Bancorp (HCBK), which did not receive TARP assistance, he realized two things.First, said Cramer, "TARP law basically said the government could do whatever it wants, so maybe these people should face the music." And second, companies that need to repay the government "can always raise money" to do it. He offered the example of Marshall & Ilsley's (MI) announcement Wednesday of a common stock offering, which pushed the stock up today. "I think the government has every single right to demand that people at these banks don't do as well until they return the money," said Cramer. -- Written by Rebecca Corvino in New York.
Cramer's Upcoming Book Signings
Tuesday , Nov. 17, 7 p.m. Barnes & Noble, Manhattan (33 E. 17th St.)
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV