The market continues to show strength, and Jim Cramer believes we are back on track toward his year-end
target of 14,548, which, as one observant Stockpickr member noticed, happens to also be the ZIP code of Shortsville, N.Y.
We're not out of the woods yet, but the rate cut from the
stabilized the market. Cramer does believe there could be dips, but he wouldn't wait around for them as entry points. As is always the case, there are plenty of good stocks to play, and Cramer continues to show us the way to those stocks.
Here are some Cramer highlights from over the past week as aggregated from his "Mad Money" TV show, the "Stop Trading!" segment on
: Last Friday, Cramer was all over the bank stocks. In a Sept. 21 blog post he wrote:
Brokers are too hard. Are banks too hard? I see this big downgrade to sell on the banks by Merrill Lynch and I have to admit that it is tempting. I just hit up the short interest for Wells Fargo (WFC) and Wachovia Bank (WB) . These numbers are extraordinary. There is so much short pressure on these names that I have to believe they are calling every analyst and demanding downgrades and the merchandising of the short stories. I find it laughable. ... If you pick a bank with a 5% yield and you just wait, you will make good money from the cuts alone.
: Cramer does not embrace that new rap that goes: "The recession's going to be really deep." In a Sept. 24 blog post he wrote:
I am telling you that if that's the case, there are so many stocks to buy that you are going to be shaken out if you don't focus on them. We have a weak dollar, which means we can make a fortune in the growth drug stocks and tech stocks. ... You can't let the "it must be really bad" camp, which I thought would have surfaced last week but didn't, scare you out of the market, because it won't be the "market" that will outperform -- it'll be the economy.
Procter & Gamble
: On his "Mad Money" shows this week, Cramer offered us insight into a number of different plays he liked for a variety of reasons. These
include several stocks in different sectors including
: Cramer was back on his four horsemen. In a Sept. 24 blog post he wrote: "It's all
. They all have great stories. They are all being shorted by quants who don't like high multiples. And their businesses are all on fire." He thinks it's time to revisit all of them.
Although Cramer still believes his four horsemen will rebound, he urged viewers Thursday to sell in the short term and remain in the stock for the intermediate term. "Take a little off the table in case they get hit at the end of the quarter," Cramer said.
Tuesday's "Mad Money" show
, Cramer reminded us that when faced with a slow-growth U.S., it's important to take a look at "economic refugees," or businesses that are capable of shifting focus away from the U.S.' weak consumer. He believes the best way to make money in such an environment is to look for companies that can draw revenue from abroad.
Cramer was full speed ahead last night with his latest
. He was bullish on several stocks such as RS and AKS but also bearish on the likes of HLYS and AL.
At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.
James Altucher is president of Stockpickr LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for
The Financial Times
and the author of
Trade Like a Hedge Fund
Trade Like Warren Buffett
. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;
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