A portfolio of defensive food stocks could be sustenance in the current market famine, Jim Cramer said on
"Stop Trading!" segment Tuesday.
The way to play it is the
PowerShares Dynamic Food & Beverage
exchange-traded fund. The ETF has "all the stuff that's been going up," Cramer noted, like
The stocks are doing well "based on absolutely nothing other than
Chairman Ben Bernanke is going to burn down the building to save it," Cramer said. "If you think we're going to have a crash landing," he said, "then you absolutely want to be in PBJ."
He was less sanguine about the
Consumer Staples Select Sector SPDR
because of its weighting for
Procter & Gamble
. P&G is "such a dog that it doesn't hunt."
Cramer praised stocks that aren't overly volatile in the current environment. "If you are up 1% because of your 'Generous' Mills, then you're doing a lot better than the guy who just walked down
for 15 points."
Cramer lamented the mood in Asia. "I cannot believe how badly those markets are acting," he said. "They act like they have caught the pneumonia from us." He cited
, which hasn't moved, despite an improvement in Japan's banking sector.
Other names that could work are
, but finding anything now is like finding "needles not just in a haystack, but in a giant bale-truck of hay."
At the time of publication, Cramer was long Mitsubish UFJ.
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