A trader is probably going to beat an investor in this type of market environment, Jim Cramer told a caller on his

"RealMoney" radio show Wednesday.

Palm

( PALM) is near bottom. This is one cheap stock and therefore a buy, he said.

When asked about

Hess

(HES) - Get Report

, Cramer said he believes that refinery plays are going to be OK.

Cramer said he would buy Hess in increments because it is a company that is up year over year and may fall even more. He called Hess the second best refinery after

Valero Energy

(VLO) - Get Report

.

Cramer told a caller who asked about

Commerce Bancorp

(CBH) - Get Report

that he recently sold his shares of the bank, which he owned for his charitable trust,

Action Alerts PLUS.

They were not making as much money as we thought, he said. The company's estimates were coming down, and now the stock is getting hammered.

"All bank stocks are going down," Cramer said. "It is a very bearish market when bank stocks go down. It is because people are worried about credit risk."

The banking group was a sector that had been a leadership group, but now the whole aerospace group is growing. When the bank group goes down Cramer said it makes him cautious.

Cramer gave

Ingersoll Rand

(IR) - Get Report

, which he owns for his charitable trust,

Action Alerts PLUS a thumbs up and told another caller to be careful with

Bear Stearns

( BSC).

He also told another caller to be cautious about

Cardinal Health

(CAH) - Get Report

because it is a high multiple stock.

Cramer said he wouldn't buy it until it came down to $60. The stock is at $66 right now.

When a caller asked about

Peabody Energy

(BTU) - Get Report

, Cramer said he sees so many high-quality oil stocks, that he's not going back to coal stocks right now.

"When oil comes, down I am not tempted by Peabody, even though it is a good company," he said.

Whole Foods

( WFMI) has held up better than any other stock in its cohort. But when Dick Fisher says the

Fed

is going to keep raising rates, a little pressure begins to build up, Cramer said.

Expensive stocks have been coming down, and Whole Foods is one of them. Cramer said he'd be careful.

GameStop

(GME) - Get Report

was one of Cramer's biggest wins when he owned it, he said. It is doing terrifically, and he believes that people will make Some money from it between now and Christmas.

Buy it, but remember to purchase it a little at a time, Cramer said.

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

At the time of publication, Cramer was long Ingersoll Rand.

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

Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here.

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