"There's a lot of undercurrents right now. I call this the battle for the soul of the market," said Jim Cramer on CNBC's "Stop Trading!" on Wednesday. "Are we doing badly in this country, are we doing less bad, or are we doing well?"
He said that when people see commodities down for the third day in a row, they think things are bad and turn to stocks like
. "The company that I think is the best in that sector is
," he said, and
99 Cents Only Stores
is "a good one, too."
The other way to go, he said, is to "buy the highest-growth stocks not tied to minerals or fertilizer, and that means biotech. "You saw
get really banged yesterday," he said, "and look at the explosion in that stock."
has also been "very challenged," he said, and now it's up.
Cramer said he's called a bottom in housing. "We are at the bottom," he said, but he cautioned that that "doesn't mean we're going to accelerate." To play housing, he said to own
Bank of America
, which he owns himself in his
At the time of publication, Cramer was long Bank of America.
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