Jim Cramer's Stop Trading! Its Name Is RIO

Cramer says the miner is a great buy right now, given how sweet nickel is.
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Miner

CVRD

(RIO) - Get Report

is worth buying because it now has "a monopoly on nickel," Jim Cramer said Wednesday on

CNBC's

"Stop Trading!" segment.

Cramer said the market hates miners right now but makes an exception for the Brazilian metals giant because of its strong position in a crucial material. Cramer said CVRD's position in nickel is not unlike Nelson Bunker Hunt's failed effort 27 years ago to corner the silver market, except that CVRD "has got the staying power."

Cramer also likes

Sprint

(S) - Get Report

. He contends that the latest quarter and comments on the conference call suggest management is saying, "We're still stupid but not as stupid as we used to be." Cramer called the fourth-quarter performance "a good quarter for a bad company" and said the stock, up 6% at $19.50, could head into the mid-20s should an acquirer come calling.

Cramer said

Qwest

(Q)

is a "winner" because falling interest rates will allow the debt-heavy telco to save money by refinancing. He said the stock, up 3% Wednesday at $8.77, will "soon be a teenager."

Cramer reiterated his comment that investors should look to the three D's -- diversified, defensive and dividend -- amid market turmoil. He said those principles underlie his recommendation this morning of

Coke

(KO) - Get Report

,

Procter & Gamble

(PG) - Get Report

and

Exxon

(XOM) - Get Report

.

At the time of publication, Cramer had no positions in 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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