Jim Cramer's Stop Trading! Buy Fannie Mae

The trader sees the stock heading to $70 from a recent $62.
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Fannie Mae

(FNM)

is going to $70, Jim Cramer said Wednesday on

CNBC's

"Stop Trading!" segment.

Cramer called the government-sponsored mortgage stock his single best idea coming off Tuesday's Democratic landslide in the House of Representatives. Cramer said the Bush administration has been trying to bring the Washington-based company down, but Fannie now has room to run with Democrats holding the reins in Congress.

Cramer said Fannie is the cheapest financial stock out there, growing at 10% a year and trading at 10 times earnings estimates. He said the stock, up 4% Wednesday, will tack on more gains from its recent $62 and change.

Cramer also like satellite radio player

Sirius

(SIRI) - Get Report

, which he said had a "monster quarter" that was overshadowed by the election hoopla. Cramer said rival

XM Satellite

(XMSR)

"blinked" by pulling in its growth horns, which will have the effect of conceding huge market share gains to Sirius. Cramer said he believes Sirius, which lost $162 million in the latest quarter, could even turn profitable within a few years.

Cramer said he would be worried about coal stocks such as

Arch Coal

(ACI) - Get Report

, given the Democrats' green leanings and stated preference for cleaner-burning natural gas. But he has had enough of the selling in

Halliburton

(HAL) - Get Report

, the oil services and infrastructure play once run by Vice President Dick Cheney. Cramer said he is a buyer of the stock, which he is long already for his charitable trust, because it has "been underperforming for weeks" as a result of political speculation.

Cramer also questioned why putative buyout candidate

Sprint

(S) - Get Report

hasn't dropped along with

Qwest

(Q)

, which fell 3% Wednesday as Wall Street bet a tougher regulatory regime would scotch any hopes of a buyout by another big telco.

At the time of publication, Cramer was long Halliburton.

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