remains a good buy amid market turmoil, Jim Cramer said Monday on
's "Stop Trading!" segment.
Cramer said Coke "is simply not as bad as it used to be," which he said counts as a victory in a bad market. Cramer has said it's time to buy defensive stocks such as Coke because of their dividends -- Coke yields nearly 3% at recent levels -- which will draw interest as investors flee from riskier plays.
Cramer also likes
, though he cautions that it's tricky to own the stock going into a period that may see analyst estimate cuts as worries about the housing market increase. Cramer says one problem with the stock is that "analysts can't be positive" even though the decline in housing prices hasn't been nearly as sharp as had been feared.
Cramer disagrees with Lehman's downgrade of
, saying that "at $35 it's hard to downgrade it." Cramer said the subprime problem, as bad as it is for lenders such as
, remains a relatively small problem in terms of the size of the mortgage market. "This is not 1989," Cramer said, which was a key year in the late-1980s savings-and-loans crisis.
Cramer did concede that Countrywide chief Angelo Mozilo is "killing his case" for buying the stock by selling his own. Cramer said he "loves Angelo" but implored him to cool his selling and "make your case already."
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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