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'RealMoney' Radio Recap: A Little Patience, Please

The buys are still there, says Cramer, but you have to look for them. Also, the Disciplined Trader.

"The schedule is unfolding just as it should ... the market has come down, and taken down both good and bad, and that's excellent," Jim Cramer told listeners of his

"RealMoney" radio show Monday.

Cramer said that there'd be no repeat of 2005, when the


did nothing, because the

Federal Reserve

will stop raising interest rates and that oil, eventually, would retreat.

"As always, the problem is the out-of-control nature of how things feel," said Cramer. "Not how they are, but how they feel."

So despite last week's losses, Cramer said that now is still the time to buy. But he warned that finding the buys may take more patience and render fewer instant rewards than what investors are used to.

He said that the brokers are in excellent shape, including

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report


Lehman Brothers



TheStreet Recommends

Bear Stearns



Gold stocks still look good to Cramer, too, including



, which he called the cheapest North American producer, and

Anglo American


, which he owns for his charitable trust

Action Alerts PLUS.

Cramer still likes oil services companies, saying that as the prices come down it's an opportunity to strike.

And he likes tech companies that are involved with consumer gadgets, including


(AAPL) - Get Apple Inc. Report





Marvell Technology

(MRVL) - Get Marvell Technology, Inc. Report


But Cramer said that the banks, including


(C) - Get Citigroup Inc. Report


Bank of America

(BAC) - Get Bank of America Corp Report

, had terrible quarters and that banks won't be able to hack it without relief from the Fed.

Cramer also said that now that every broker has looked with kind eyes upon


(GOOG) - Get Alphabet Inc. Class C Report

, he thinks it's "a little tapped out" and he doesn't want to be there.

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(F) - Get Ford Motor Company Report

did announce a massive restructuring, Cramer said that it will take years to turn the company around, so he doesn't want to be there either.

The Disciplined Trader

Lenny Dykstra, "RealMoney" Radio's "Disciplined Trader" and celebrity investor contributor for

, told Cramer that recent declines in the stock market have given him an opportunity to buy as many quality stocks as he can by using deep in-the-money calls.

Dykstra has picked up

General Electric

(GE) - Get General Electric Company Report

, by paying $4,000 to buy 10 deep in-the-money calls. That means he controls 1,000 shares of GE through June 30, and that if the stock makes even one move higher, he'll take the profits and go.

With calls, when the stock moves, you trade it and take your profit, said Dykstra. It's not like a stock, so don't hold onto it, he reminded listeners. You take your money and go, and you may be able to buy it back cheaper.

Going forward, Dykstra said that he thinks


(CE) - Get Celanese Corporation Report

will have a blowout quarter.

Adding that Celanese held up while everything else sank last Friday, Dykstra said it could be a good trade ahead of its earning report.

He thinks


(VRSN) - Get VeriSign, Inc. Report

will report a good number, too.

And Dykstra said that he loves

Dow Chemical

(DOW) - Get Dow, Inc. Report

, which recently tested its 52-week low. He's also controlling shares of Dow Chemical through the third week in June.

Cramer's Callers

Cramer spent the rest of the showing fielding listener phone calls. He told one listener that he would wait for the railroad sector to pull back before he put money there.

The sector held up really well in face of tremendous selling last week, Cramer said, adding that until the group comes down, there's more risk there than he would like to see.

He also told a listener who was thinking about picking up


(AMTD) - Get TD Ameritrade Holding Corporation Report

for the dividend that there's no reason to unload the stock anytime soon.

"I don't advocate trying to capture it just for the dividend," Cramer said, adding that this stock, which he owns for

Action Alerts PLUS, is one to be in to win.

He also said that there's a brokerage resurgence, citing consolidation among online traders that has winnowed the group down to Ameritrade,

Charles Schwab

(SCHW) - Get Charles Schwab Corporation Report



(ET) - Get Energy Transfer, L.P. Report


Cramer said that he would shy away from


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, which he called a "business rife with difficulty because of the growing popularity of video on demand.

Cramer didn't recommend it as a trade ahead of its earnings report, and he wouldn't advocate it as an investment.

However, he said he would be inclined to buy

Williams Sonoma

(WSM) - Get Williams-Sonoma, Inc. Report

, because it had the wherewithal to shutter its weak Hold Everything stores and concentrate on the brands that perform well, namely Williams Sonoma, Pottery Barn and Pottery Barn Kids.

Cramer is avoiding

Restoration Hardware


, which he said had a poor quarter.

A caller who bought

JDS Uniphase


at $1.90 and sold it at $2.60 wanted to know when would be a good time to get back into the stock.

With the stock currently near $2.95, Cramer said that he'd wait until after they report. He believes that the quarter will be good and that people who also got in below $2 will want to book profits, and the stock will come down.

That's a time to buy JDS Uniphase, he said, adding that he believes the company is a long-term story.

With geopolitical tension rearing its head all around the globe, Cramer said that oil and gas in safe areas of the world is now what the energy market is all about.

Cramer would wait for a pullback before picking up


(ALKS) - Get Alkermes Plc Report

; and he told another listener to be patient when it comes to

Powerwave Technologies



The stock rose to $12 from $6, he said, saying that this was a very big move.

"It's biding its time," he said. "There's a difference between a stock biding its time and a losing stock."

At the time of publication, Cramer was long Anglo American and Ameritrade.

James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. 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."