"I think oil has bottomed. I think we should be buying oil stocks," said Jim Cramer on Wednesday's "Stop Trading!" segment on CNBC. "The multiples are the lowest I've seen, and if oil stays in the $40s, these companies are going to make a lot of money."

He specifically recommended


(XOM) - Get Report



(COP) - Get Report



(TEX) - Get Report



(OXY) - Get Report

. "I want that dividend," he said.

Copper inventories "have been going down, down, down, down, down," Cramer said. "I believe that this is a sign that the Chinese stimulus is working. He said that


(FCX) - Get Report

"is ramping, and I don't think it's done."


(CAT) - Get Report

is experiencing a "big short-cover rally," Cramer said. That said, "You can't build roads and bridges without CAT, so maybe the money is going to start trickling down."

Cramer said that people "confuse


(BJ) - Get Report



(COST) - Get Report

." Whereas Costco sells avoidable products such as electronics and jewelry, BJ's "is much more staple, staple, staple." Costumers at BJ's and

Big Lots

(BIG) - Get Report

can "buy cheaper products and more of them."

Last night, Cramer said,


(ACM) - Get Report

"did a secondary at $20, and if you bought it, you're up a buck. When is the last time that happened?" He said it's an "extra signal that there's demand."

At the time of publication, Cramer was long ConocoPhillips, Caterpillar and Freeport.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click

here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click

here to order his book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.