Cramer's 'Stop Trading!:' BP Oil Spill
NEW YORK (TheStreet) -- Jim Cramer, on his Monday Stop Trading! segment on CNBC, said that the game for BP (BP) changed at around 2 p.m. Monday when the New York Times reported the company was making major progress with building domes to contain the leaking oil in the Gulf of Mexico oil spill.
Cramer said if this is true, "the worst is over."
Cramer noted that BP will be the major company "on the hook," of all of those that have come under the microscope since the tragic Gulf of Mexico oil spill, and that BP would be responsible for all the costs. Still, those who believe that BP could be wiped out by this catastrophic event are wrong, Cramer said: "BP's debt-to-capital is incredible."
Shifting to the homebuilder sector on Monday, Cramer noted that Standard Pacific (SPF) was his top homebuilder pick. "SPF goes to 8. It's my best name in the group," Cramer asserted.
-- Reported by Andrea Tse in New YorkFollow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll 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.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
