RealMoney Radio: No Bears Here
Cramer told a caller to his
"RealMoney" radio show Monday that he is refusing to declare a bear market right now.
On a conference call on Monday, the chairman of
Lehman Brothers
(LEH)
said that we are at or near end of the
Fed's
tightening, Cramer said.
"The Lehman Brothers chairman is saying we're almost done, and I'm saying we're almost done," he said, estimating the Fed will finish raising rates in six to 18 months.
Cramer told anothre caller that although
Avanir Pharmaceuticals
(AVNR)
has so much going for it, it has been down day after day.
"It's a speculative stock that I should have added my speculative stocks index," Cramer said.
Cramer recommended
Celgene
TheStreet Recommends
(CELG) - Get Celgene Corporation Report
and
Genentech
(DNA)
as stocks bearing less longer-term risks.
Dow Chemical
is growing at 11% and has a price-to-earnings multiple of 8, Cramer told a listener.
It is the biggest buyer of natural gas out there, and it's currently at its 52-week low, Cramer said. "It is a buy," he added.
Cramer told a caller he is not letting go of
General Motors
(GM) - Get General Motors Company Report
. The company makes good cars. "General Motors is not dead," he said.
When a caller inquired about the price of gold and
Goldcorp
(GG)
, Cramer said that although the stock may be the absolute long-term winner, it has fallen precipitously.
"I may warm up to it at $20, but at $25 I'm staying away for it," Cramer said.
Cramer said
ConocoPhillips
(COP) - Get ConocoPhillips Report
is a story that is hard to fathom.
It is growing at 8.5% and has six times earnings, but the stock is still down. In this case, you have to recognize problems and try to take a longer-term view, he advised the caller.
Cramer told a caller that it is not safe now to buy
Halliburton
(HAL) - Get Halliburton Company Report
, which he owns for his charitable trust
Action Alerts PLUS, and also advised another caller to stay away from
Sotheby's
, calling it a counter-cyclical play and saying that it will come back down.
He called
Fortune Brands
undefined
a "smoking good business," but recommended that the caller not buy all of it at once, but instead advised buying a little at a time.
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 Halliburton.
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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