meets, the market is going to continue bouncing up and down, Jim Cramer said on his
"RealMoney" radio show Tuesday.
Analysts who say there won't be any bounces are wrong, he said. It is difficult to decipher how strong the bounce will be or how long it might last, but it will occur, Cramer said.
The pattern of the market keeps changing day to day because people are switching in and out of funds. Unfortunately, the homework and research Cramer talks about doing before buying a stock does not seem to matter in this type of environment, he said.
National Oilwell Varco
, an oil management company, is fully booked up, but the stock is getting hammered, Cramer said.
But Varco is not the only stock that's going down, he said. Companies that make equipment for Varco, such as
, are also plummeting. Although the company's order books are filled, its stock was at its 52-week low last week, Cramer said.
, which Cramer owns for his charitable trust
Action Alerts PLUS, is another company that is not where it should be, he said. The stock is trading at $39 from $49 four weeks ago.
It is the No. 1 pollution services company that Cramer said he follows, and in addition, the industry is "rocking," he said.
, which Cramer also owns for his charitable trust,
are three other companies that Cramer said are doing well and are surprisingly down.
However, there is a lesson people can learn from this, he said. It is not easy to pick stocks under bounce scenarios. And people must understand that the fundamentals of the companies are not swayed by the bounces, he said.
For a video presentation from Cramer on things to keep your eye on in this market, please
Too Many Wrongs
It's very tempting to buy a $2 stock, especially if it's in the tech sector, said Cramer.
Although he likes speculation, he said a $2 stock that is not currently a bargain is
. One after another, the company's CFO, COO and CEO have resigned and, in addition, the company has no financials, Cramer said.
This morning, Nortel put out a press release that stated it had been awarded a $3 million contract. Although a lot of people are under the notion that a takeover will occur and that the company is ripe for picking, Cramer does not believe that this will happen.
is up for the first time Cramer can recall, his sentiment behind the company remains the same, he said.
"It is one of the worst IPOs I have ever seen, and it keeps getting worse," he said. "They should cancel all the trades and give the money back to investors."
The company should not have become public, he said, but it is never too late to change a wrong and make it right.
The management team for
came out last week and said things were going well at the company, said Cramer.
Because Cramer said he could only rely on what the business has been saying, he advised the caller not to bail on the stock, which he also owns for his charitable trust,
Action Alerts PLUS.
Cramer said he could not remember
Johnson & Johnson
selling as cheaply as it now is.
He told a caller that JNJ has a pristine balance sheet, and Cramer recommended staying with it.
Cramer also said that if he didn't own drug company
for his charitable trust,
Action Alerts PLUS, he would get into JNJ himself.
"It's a high-quality company, which should be owned by people looking for something in the medicine chest," he said.
Cramer advised unloading some
, the largest coal company in the world and a mineral supermarket.
The stock, which he owned for his charitable trust, is under tremendous pressure, Cramer said, adding that he's glad he sold it because he doesn't like it as much as he used to.
Cramer does not believe that
is going out of business, he told a caller.
He believes that the company's competition is diminishing, and that it still has a place in the industry, even with video on demand.
Although it might not be in a great place, Cramer said the stock should be trading at $5 or $6 -- not $4.
Blockbuster has made money the past two quarters, he said, adding that he blesses not an investment, but a trade on BBI.
Cramer told a caller that it is wrong that
went down. At a fabulous 17% growth rate, the stock is a bargain at $24, he said, advising the caller to pull the trigger right now.
Cramer told one caller that he believes that better times are ahead for
and told another caller to ride
for two weeks before letting it go.
a nice, safe investment.
Although Cramer said it wouldn't knock anyone's socks off, he believes Pitney will go up steadily.
"I would buy and stay focused on it," he said, "but don't get a feeling that it's going to skyrocket.
At the time of publication, Cramer was long URS, Foster Wheeler, TD Ameritrade and Schering-Plough.
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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