"Retail's a different animal when things get bad," said Jim Cramer on Tuesday's "Stop Trading!" segment on CNBC. "When we get double-digit unemployment, everything goes."
He said the dollar stores, such as
, are the only thing that might be safe. Not even
, which he said is not over-leveraged and has a "really good" balance sheet, can avoid the fate of retailers such as
"Why should Sears be immune from this?" he said.
"Eddie's my friend," said Cramer, referring to Sears Chariman Eddie Lampert, but "he's got
going against him and
going against him."
Addressing big oil, Cramer said that
is his tell. Cramer said that when oil was at $80 to $100, stocks such as Exxon "telegraphed a dramatic decrease in oil" to $60.
Exxon "predicted everything that happened, and it was six months ahead of everything," he said. "And that stock's done going down."
If Exxon was right before, Cramer said, it might be right again. Now he sees a bottom for oil in the $50s and a $2 bottom in gasoline. "You have to believe that oil might be bottoming, because that's what the stocks told you before," he said. He also mentioned that
"has moved up lately."
At the time of publication, Cramer had no positions in stocks mentioned.
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