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Cramer Says Wait On Oracle

Jim Cramer: But, they're doing it, and this is a company that historically has gotten it right after getting it wrong. Does a lot of getting it wrong and getting it right, and it's a loved company and people feel that fuel costs aren't going to go up that much and that they're going to rationalize and that Asia is going to come back and they're going to live happily ever after. And you know what? I agree.

Debra Borchardt: And if you're buying the stocks, so let's just put all that away.

Jim Cramer: We've bought it lower. I'm not a buyer at these. I'm not a buyer at this level, but people are because they want exposure so badly.

Debra Borchardt: You know Oracle's at a 52-week high and FedEx so, you could argue well it's coming down, but where would you buy FedEx?

Jim Cramer: Is the train leaving the station? Well in $90 or $91 say, we sold some in $92 and I don't want to say like, hey listen I'd buy it at $95 having sold some at $92, but we have big position and it has run gigantic from when we bought it when it was ugly.

The problem I have with buying anything today, and we have a nice position in cash not huge for Action Alerts, but the problem I have is just that, you know the transports yet to break out, we don't really have the good news from Washington. There'll be someone who just very knee jerks, says listen there is no deal December 30. There'll be chaos in January. I want to sell now and that's your better moment. Now, just to put on my old hedge fund hat, you may not get the better moment, but I think you have to, at this point, wait.

Debra Borchardt:Okay, so wait on Oracle. Wait on FedEx.

Jim Cramer:Because so many of us are not at the 52-week high that I still like.

Debra Borchardt: Okay, so wait on Oracle. Wait on Federal Express?

Jim Cramer:Yeah.

--Written by Debra Borchardt in New York.

>To contact the writer of this article, click here: Debra Borchardt.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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