Jim Cramer's 'Stop Trading!': Buy Foster Wheeler

Cramer likes the company for its exposure to coal, he said.

Author:: TheStreet.com Staff
Publish date:: Apr 4, 2008 3:00 PM EDT

Cramer likes the company for its exposure to coal, he said.

Buy Foster Wheeler, Jim Cramer said on CNBC's "Stop Trading!" segment Friday.

Cramer said he also likes

ABB

, but "the problem with it is it's got too much nuclear." No one wants to build a nuclear plant in this country, he said.

Cramer likes Foster Wheeler for its coal-bed fluidization. "Coal is hot as a pistol," he said. He mentioned

Arch Coal

(ACI) - Get Report

as a company in the sector. At the end of the day, however, "Foster Wheeler is my play. Period. End of story," he said. He said the company reported a "powerful quarter" and has a "great backlog."

Cramer said some people estimate that 50% of commodities are trading on speculation, "which makes me want to buy

CME Group

(CME) - Get Report

." He predicted a "major move to the upside" once the exchange finishes acquiring

Nymex Holdings

( NMX). "They're very pro-shareholder," he said.

Cramer said that a decline in

Washington Mutual

(WM) - Get Report

shares was a "classic raid" by short-sellers. He recommended that the Senate investigate short-selling tactics.

Cramer also said the fundamentals of the company are bad. "I really dislike that stock intensely," he said. He concluded by joking, "It has a great deposit base. It maybe gets an $8 bid one day." The stock is currently trading in the $10.50 range.

At the time of publication, Cramer was long Foster Wheeler.

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