On the Thursday-night episode of "Mad Money" on CNBC, Jim Cramer said that the market is no longer bottomless and is being led upward by oil, technology and banks.
The biggest story is that oil is above $50 a barrel, he said. Oil stocks that merited specific mention included
, which he owns for his
BP Prudhoe Bay Royalty Trust
, which he called a "safe bet"; and
Permian Basin Royalty Trust
, which was up 27% since he'd mentioned it on Feb. 26.
Permian Basin closed on Friday up 11 cents, or 1.1%, at $10.32; and BP Prudhoe Bay was up $3.61, or 5.9%, at $64.96; while BP was down 81 cents, or 2%, at $39.40.
On the "Sell Block" on Thursday were two REITs,
. Cramer said both were threatening to cut their dividends, something he said is usually followed by more bad news.
He said neither company could be trusted. Kimco closed down $1.09, or 13%, at $7.30 on Friday. ProLogis was down $1.05, or 16.3%, at $5.39.
Stocks Cramer was bullish on during his "
" segment included
( WFMI) and
. He was bearish on such stocks as
( JAVA) and
On Friday, Whole Foods closed down 68 cents, or 4.2%, at $15.37; Apple closed down 3 cents at $101.59; Sun Microsystems closed down 53 cents, or 6.1%, at $8.10; and Tetra Tech closed down 34 cents, or 1.6%, at $21.07.
At the time of publication, Cramer was long BP.
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