is a good pick for 2008's volatile trading environment, Jim Cramer said on
"Stop Trading!" segment Wednesday.
"Coca Cola said on my show not that long ago
that raw costs
and commodity costs actually peaked. ... People are paying much more for those earnings because they're so consistent. ... Coke is going to continue to go higher," Cramer said.
insurance executive Ajit Jain is spurring a short squeeze on
, Cramer said.
Cramer's skeptical about Jain's assertion today on
that Berkshire Hathaway may buy one of the beleaguered bond insurers. "Why open a business and therefore crush your competitors when you want to buy?" He says it doesn't make sense to go shooting against them and also buy them.
Cramer is leery of Ambac and MBIA's viability. "Buffett has historically not wanted to buy black boxes," Cramer continued. "Eric Dinallo,
New York's superintendent of insurance, is saying 'I don't trust these companies.'"
"The shorts cover then put out," Cramer concluded, because of continued turmoil in the housing and financial markets.
Cramer also commented on
recent bounce. "I still think Google is the tell for this market. ... It is not the fundamentals driving Google or
. If that were the case, Apple would be at $200 and Google would be at $700."
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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