Skip to main content

Jim Cramer's Stop Trading! Seagate Ebbs

Cramer likes Penney, though.

Seagate

(STX) - Get Free Report

"still has lower written all over it," Jim Cramer said Wednesday on

CNBC

's "Stop Trading!" segment.

Cramer said there's "no reason to buy" the disk drive company despite Wednesday's 6% selloff. He said the entire disk drive group remains a sell rather than a buy, even at reduced prices.

Cramer is more interested in

J.C. Penney

(JCP) - Get Free Report

, the department store chain he called a "multiyear story" off recent innovations such as the Sephora cosmetics contract and a private label deal with

Polo Ralph Lauren

(RL) - Get Free Report

. Cramer said Penney and

Kohl's

(KSS) - Get Free Report

do a good job of making shoppers "feel they're richer than they are," and as a result he's inclined to give Penney "the benefit of the doubt" in spite of concerns about its quarter. He sees the stock at $85, up from a recent $81.50, next month.

Cramer also likes

United Technologies

(UTX) - Get Free Report

, which he said should go to $70 off its strong earnings power from a recent $66.

At the time of publication, Cramer had no position 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

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.