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"No one ever made a dime panicking," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday. "And that's why those who sold yesterday want to shoot themselves today."
Cramer described today as the perfect bull market down opening. As soon as the market was down 5% from its recent highs, it recovered, he said. Just as predicted, the tech stocks lead the charge, followed by the banks, the oils and even the industrials, he added.
Cramer said he continues to see strength in
, two stocks he owns for his charitable trust,
Action Alerts PLUS, along with
Bank of America
In the industrial sector, Cramer said strong comments from
, especially about strength in China and decent March sales, made him buy more shares for Action Alerts Plus. The only surprise in today's market was high-end retail, with positive comments from
, he said.
Cramer said panic didn't work yesterday, and it won't work tomorrow. "You can't afford to lose your cool," he said.
When analysts collide, Cramer decides. That's the case with oil giant
, which was both upgraded by Goldman Sachs while at the same time downgraded by an analyst at JPMorgan Chase.
Cramer made the case for both sides before giving his opinion.
On the plus side, the Goldman Sachs analyst, who is new to the job, upgraded the whole sector, citing an early cycle recovery for the group. He put Halliburton at the head of the class due to its reduced rig count and strong balance sheet.
On the negative side, the JPMorgan analyst said he's not expecting an early recovery for the group and sees instead another 3% to 5% erosion in the company's margins.
Cramer said he's siding with JPMorgan. "You can't bet on a turn when the fundamentals are still deteriorating," he said. He told viewers to ring the register on the stock that's already run from $15 to almost $20 a share.
Have a Pepsi
In his regular "Off The Charts" segment, Cramer examined the chart of
to see what the big money sees in the stock. He again went head to head with colleague Rick Bensignor, who recently rated the company a buy.
According to Bensignor, Coca-Cola is attractive because the recent lows of 2009 mirror that of lows in 2006, 2004, and 2003, making investors feel comfortable investing at these levels. The company's chart also signals a buy according to the Demark models, another reason big money is likely to buy in.
But Cramer disagrees, favoring instead Action Alerts Plus name
over Coca-Cola. According to Cramer, Pepsi is ahead of the curve in terms of capitalizing on a North American recovery. With the company purchasing the remaining shares of its bottlers, it's both streamlining operations and getting closer to retailers.
Pepsi is also less international than Coke, giving it more to gain from the U.S. recovery and less exposure to a stronger dollar, he said.
chairman and CEO Kevin Burke to the show to discuss that company's outlook in a new cap-and-trade world. Burke has been one of only a few utility executives that actually support the measures.
Bruke painted a rosy picture at ConEd, stating that including the company's 6.2% dividend, shares are only off 2% so far this year. He said everyone should have a place in their portfolio for a solid income producing stock like ConEd.
When asked about the current economic environment in New York City, the company's primary market, Burke said that sales are off a small percentage year over year, but given the recession New York, are faring very well.
Cutting to the topic of the day, Obama's cap-and-trade initiatives, Burke explained that ConEd stopped burning coal back in the 1970's, and in recent years has divested of all but 5% of its generation needs, instead focusing on only transmission and distribution of electricity, gas and steam.
Given the company has only a small carbon footprint, it will likely be unaffected by cap-and-trade, he said.
Cramer said that's exactly why he's been a fan of ConEd, calling it a solid, dividend payer and a forward thinker.
Cramer was bullish on
He was bearish on
Marsh & McLennan
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At the time of publication, Cramer was long Goldman Sachs, JPMorgan Chase, Pepsi and Caterpillar.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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