Jim Cramer's Stop Trading! Nipping at Nymex

Cramer says use limit orders to buy into this hot IPO.
Author:
Publish date:

The

Nymex

IPO is looking like a screaming buy, Jim Cramer said Thursday on

CNBC's

"Stop Trading!" segment.

Cramer said he would use limit orders Friday to buy shares of the commodity exchange up to 20 points above its expected pricing range of $54 to $57. The offering is expected to be priced tonight and to open trading tomorrow.

Cramer cited the strong gains in other exchanges, such as the

NYSE

(NYX)

and the

Chicago Mercantile Exchange

(CME) - Get Report

.

"There has never been a bull market like we have in exchanges," he said.

Cramer also said it's not time to own food stocks such as

Pepsi

(PEP) - Get Report

and

Kraft

(KFT)

because the group's May-October runup left these names with big price-to-growth premiums. "Don't buy any of them," he said.

Still, Cramer applauded Pepsi for sending him a bunch of low-fat snacks in the wake of his remarks about the backlash against unhealthy convenience foods. Cramer said Pepsi's move shows the company is "not sitting still."

At the time of publication, Cramer was long Kraft's majority owner,

Altria

(MO).

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.