"A lot of people feel that because of muni bond problems ... maybe you need to have less domestic." Cramer pointed out that ABB, a Swiss industrial equipment company, doesn't have the same risky exposure to U.S. infrastructure. "They get their fair share of nuclear orders. ... That could be a good way to go without going, 'Oh, another municipality is paying too much.'"
Cramer also advised investors to look at
In honor of Beltone Financial's "Egypt Day" at the
New York Stock Exchange
, Cramer recommended the
SPDR S&P Emerging Middle East & Africa
ETF. He added that "stocks are too narrow" for a play on Egypt.
As for other emerging markets, Cramer let viewers know he no longer considers Brazil as an emerging market. Citing the fiscal responsibility and dynamism of the economy, he compared Brazil to the way the U.S. used to be.
To conclude, Cramer noted, "We are seeing a major selloff in retail." Cramer believes that this could be a buying opportunity. "I don't know if I want to buy the banks until we have the
( ABK) plan hammered out," but the retail sector is oversold, he said. He mentioned
as potential plays.
At the time of publication, Cramer had no positions in any of the stocks mentioned.
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
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