Cramer's 'Mad Money' Recap: There's No Place Like Home Stocks
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NEW YORK (TheStreet) -- With a turnaround in housing underway, it's time to go shopping for home-related stocks, Jim Cramer told "Mad Money" viewers Tuesday. That means taking a stroll through the aisles of Home Depot (HD).
Cramer said Home Depot's conference call was a thing of beauty, one where management told investors that even the hardest-hit areas of the country, California and Florida, are seeing improvements in their housing markets. Cramer said that news alone is enough to warrant a buy of Home Depot, along with any of the home builders with big exposure to those regions.
Off The ChartsIn the "Off The Charts" segment, Cramer went head to head with colleague Tim Collins over the chart of Currency Shares Euro Trust (FXE), the ETF that gauges the health of the euro against the U.S. dollar. According to Collins, the euro may be poised for a rebound. Cramer said that's a theory investors should pay attention to since Collins correctly called the top in the euro several months ago. Looking at the daily chart of the FXE, Collins noted the euro's fall since March of this year. However, both the TRIX and relative strength indicator (RSI), two gauges of momentum, are signaling an oversold condition. This, combined with a recent head-and-shoulders pattern, is telling Collins that a bounce may be imminent.
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