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Jim Cramer: Not Too Late to Buy Any of These

NEW YORK (Real Money) -- What's not too late to buy? What do we bid on when the market starts coming in, either from sheer exhaustion or because there's too much profit not to take?

These are the questions that, after years and years of running money in some form or another, still swirl through my head as I look over the morning's pricing menu.

Now, if you like momentum, there's tons to choose from. You can hop on some Google GOOG or buy some Facebook (FB). You can go after the ripping industrials, grab on to a stock like Caterpillar (CAT) because it is behind the market and seize on some General Electric (GE) as a laggard because it is a new industrial, morphing away from its financial tethers.

We've also had some movement in the telco-equipment plays and the personal-computer-peripheral companies. But I have little conviction in that move, given that there might at last be capacity coming on in peripherals, Cisco's (CSCO) out there stinking up the joint and there's so much fretting about Apple (AAPL) -- even as I think the latter sentiment is unwarranted, and that Apple should be bought.

I understand any of those ideas. There are only a few days left in the year, and all of those constitute fertile ground of which to be a buyer.

But what I am talking about is what's cheap after the smoke clear -- what's just been ignored of late. I see five sectors that make sense.

First, there's the banks. If the Federal Reserve is to be taken at face value, there will be no increase in what the central bank has to pay you on your CDs, but there will be more capital to lend, and there will be enough inflection in the yield curve that the banks can make plenty of money.

It's a natural group, and the natural one in the natural group is Bank of America (BAC), because shares still aren't back to where they were just a couple of years ago after the crash. Only a handful of companies, notably Ford (F) and Alcoa (AA), can make that unfortunate claim. Of course, it also doesn't hurt that the prosecutions are winding down, and that the capital is brimming at the same time that the Fed seems to be willing to loosen restrictions on a return of capital.

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