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Cramer's Stop Trading!: Don't Buy, Buy, Buy

NEW YORK ( TheStreet) -- On his Friday Stop Trading! segment on CNBC, Jim Cramer said he believes the stock market blood bath on Thursday was purely the result of a technical trading error -- but he's aware that not everyone feels the same way.

"Many believe that the market deserved to be down," Cramer noted, given all the uncertainty over Greece and Euro zone debt. Thus, Cramer still maintains, as he did Thursday, that current market conditions aren't ideal for playing the stock market right now, at least for the retail investor.

"There's no real conviction to the longs here. I want to wait until there's more conviction," he commented. He suggests looking at tech stocks like Apple (AAPL - Get Report) as the market begins to recover.

"The iPad 3G sold out in one week," he marveled.

On Thursday, P&G (PG - Get Report), whose recent dividend boost and "great" conference call continue to be lauded by Cramer, was one of the biggest declines on the Dow, decelerating at a shockingly fast pace; at one point, to about $39. Cramer thought that it would have been an "unbelievable opportunity" to jump in and buy up P&G shares then.

Still, the stock's current price of about $60 is also inexpensive, Cramer said.

-- Reported by Andrea Tse in New York


Copyright 2010 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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PG $81.02 0.06%
AAPL $95.24 1.70%
TSLA $233.11 -3.60%
YHOO $36.07 -1.30%
FB $117.73 -0.71%


Chart of I:DJI
DOW 17,769.98 -121.18 -0.68%
S&P 500 2,064.04 -17.39 -0.84%
NASDAQ 4,773.0850 -44.5090 -0.92%

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