With the Democrats having a hold on the House and maybe the Senate, people should brace themselves for "nasty subpoenas" in the oil sector, but nothing else, Jim Cramer said on his
"RealMoney" radio show Wednesday.
Although the Democrats might try to "tack on higher taxes to the oils" and "make noise" for a windfall tax, these taxes won't stick, he said.
"The Democrats know that these guys simply won't drill if they get penalized too much, and we can't have that," Cramer said. "There will some noise, but in the end nothing will hurt these guys."
In fact, oil stocks have actually been rallying, he said.
is one such stock.
However, although the company's numbers should be good, Cramer believes that it will be a target. After all, Valero is the No. 1 refiner, he said.
On a separate note, Cramer urged market players to use the recent upgrade in
to lighten up on the stock.
Also, as California has decided it is not going to penalize tobacco companies, there's been a "terrific" rally in tobacco stocks, Cramer said.
, which he owns for his charitable trust,
Action Alerts PLUS, is "going up here and is not done," Cramer said.
With the new makeup of Congress, there are two areas to look at to make money on a long-term basis: homeland security and mortgages, he said.
In terms of domestic security, Cramer said that the Democrats like to spend just like Republicans when it comes to security -- only they like to spend locally, not internationally.
is going to be a "real winner" here as a bomb-detection play, he said.
American Science & Engineering
, while not Cramer's favorite, is also good, he said.
He said he also likes
as inspection plays.
In terms of mortgages, Cramer said that
is one of the few stocks that is not done going up.
Moving on, he said
Barnes & Noble
are "good places to be."
And if people like
, they should love
, Cramer said.
While Cisco should report a good quarter, Cramer is hoping it won't so that a buying opportunity can present itself.
is down 13 straight points, and that's not right," Cramer added. "Enough, it's time to buy Humana, not sell it."
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 Altria.
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
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.