Jim Cramer's 'Stop Trading!': Don't Trade on Gustav
"Be careful," Jim Cramer warned viewers on Wednesday's "Stop Trading!" on
CNBC
. "You need a direct hit in order to take out the Gulf."
Cramer said he's wary about making a trade in the natural gas and oil company group on the belief that Tropical Storm Gustav will hit the Gulf Coast, because if it doesn't hit, oil could be down by $8 to $9 by Tuesday. "I like the group," he said, but it's getting overheated on weather reports.
Addressing a recent story in
The Wall Street Journal
declaring that the infrastructure trade is done, Cramer said: "If the party's really over, then why is
Fluor
(FLR) - Get Fluor Corporation Report
up so big?" He said
Shaw Group
(SGR)
and
Foster Wheeler
undefined
, which he owns for his
TheStreet Recommends
charitable trust, are also up.
Next, Cramer said that he wants to know the Treasury source that
Barron's
used in the article that contributed to the 50% fall in share prices for
Freddie Mac
undefined
and
Fannie Mae
undefined
, which have been climbing ever since. "All that's happened is that it's gotten worse for Fannie and Freddie," Cramer said, "but the stocks go up every day. Where is that
Barron's
source?"
Finally, Cramer turned to
Quanta Services
(PWR) - Get Quanta Services, Inc. Report
, which he's been buying for his charitable trust. Quanta has figured out how to address the problem of connecting wind turbines to the grid, Cramer said.
At the time of publication, Cramer was long Foster Wheeler and Quanta.
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
Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click
here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click
here to order his book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
clicking here.
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.
