
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
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, 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
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and
Fannie Mae
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, 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.
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