NEW YORK (TheStreet) -- "I think that people forget that this is primarily the day when mutual funds come in and buy their stocks aggressively," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday.
For example, he said he expected
"to blow out" and go back to $170, and he saw "aggressive buying" in
Bank of America
As for hedge fund manager John Paulson's buying of
, Cramer called it "the most important story" and said Paulson "is the best." "The man who understood mortgages and knew to short them is buying a bank that we know the biggest problem is mortgages," said Cramer. "The No. 1 smartest mortgage guy is taking Citi!"
Cramer said that in talking to
CEO Michael Watford, Watford indicated that a "major change" was afoot in Washington, and natural gas would become the preferred fuel for federal cars and trucks. "That's why you see
ramping," said Cramer.
With news that
expects its Dreamliner plane to fly by the end of the year, Cramer offered up a few ancillary plays, including
, which he owns for his
, "a giant maker of fasteners"; and
, which he said is "almost entirely aerospace."
-- Written by Rebecca Corvino in New York.
(Editor's note: At the time of publication, Cramer owned Honeywell and Bank of America for his Action Alerts PLUS charitable trust.)