Cramer's 'Stop Trading!': Pick up Palm
"One of the things we've learned about tech is that unless it's Apple (AAPL) - Get Report, it's not transcendent," said Jim Cramer on CNBC's "Stop Trading!" segment on Tuesday. But, he said, "the area is in flux, and it's absolutely ready for another competitor."
He recommended buying
Palm
(PALM)
until it
and then selling, "because that's what happened with the iPhone. The hype was so great."
He said that Palm could end up being a long-term player, though. "Sell some after the hype, but then if it goes back down, you buy it. Palm's got some really smart people behind it."
Procter & Gamble
(PG) - Get Report
and
Coca-Cola
(KO) - Get Report
"are signaling so much dollar weakness to come," said Cramer. "Procter on its conference call is just endlessly saying, 'The dollar killed us. The dollar killed us.'"
He said he loves
State Street
(STT) - Get Report
, which he owns for his
charitable trust, and that it's a better company than
Bank of New York
(BK) - Get Report
but that Bank of New York "is now undervalued vs. State Street."
"No one seems to buy Bank of New York after its secondary," he said, and the company deserves more credit.
As for
Las Vegas Sands'
(LVS) - Get Report
new casino resort in Bethlehem, Pa., Cramer said he's "very worried that this is not going to work."
At the time of publication, Cramer was long State Street.
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