Skip to main content

A rally in

Jacobs Engineering

(JEC) - Get Free Report

shows the infrastructure sector can be bought again, Jim Cramer said on

CNBC's

"Stop Trading!" segment Tuesday.

Jacobs, which "blew the cover off the ball" with its recent earnings, single-handedly vanquished frustration caused over the last few weeks by

Shaw Group

(SGR)

and

Halliburton

(HAL) - Get Free Report

, Cramer said. "This signals it's time to buy

Fluor

(FLR) - Get Free Report

and

McDermott

(MDR) - Get Free Report

.

Jacobs' good fortune highlights that most U.S. infrastructure concerns are "international companies" that are more dependent on spending in Bahrain and China than by Texas utilities. "Infrastructure is global in nature, not U.S. in nature."

In another sector, Cramer praised

Medtronic

(MDT) - Get Free Report

on a belief that the federal government won't cut back Medicare and Medicaid reimbursements for its devices as much as feared.

Cramer also reiterated his belief that trading in the

Oil Services Holders

(OIH) - Get Free Report

fund is being manipulated. He noted the ETF "snapped back nine points" since being "jammed down" toward $130 last week during an options expiration. "The

SEC

is busy investigating hedge funds. Why don't you check out what happened in the OIH?"

At the time of publication, Cramer was long Halliburton.

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. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest 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.