Buy wind stocks, Jim Cramer said on CNBC's "Stop Trading!" segment Wednesday.
Cramer said that the U.S. is facing a shortage of supply of windmills. "Everybody who's involved in making them, it's a win still," Cramer said. He recommended
as plays on his thesis.
Cramer went on to say that it's most important that the U.S. use wind power for utilities, as opposed to transportation. "When utilities shift away from oil and coal, that's a win for the emission people," he said.
On the broader market decline, Cramer said, "There's an existential crisis among the short-sellers." He said that
was the "single greatest short," but the "stock went up yesterday," despite a slew of bad news. He said that investors are giving up and covering short positions in the financials. "I think a lot of them covered ... and I think you're seeing there's no bid underneath," he said.
It's still not time to get long the financials, Cramer said. "You gotta let them come in. ... The quarter's not going that well." He said investors should wait to "see how the
paper does. Let's see how the
paper does." He said that the Fannie Mae results were so bad, that the rise in share price was "just a squeeze."
"Everything's overinflated by the shorts giving up and covering in that group," Cramer said. He recommended that viewers stay on the sidelines for now when it comes to financial stocks.
have "decided to crush their gross margins," to get rid of inventories, Cramer said. He cautioned investors that the companies now have "no earnings power."
At the time of publication, Cramer had no positions in any of the 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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