Let's go against the grain for two stories: Texas Instruments ( TXN) and Freddie Mac ( FRE). I think that the criminal Freddie Mac investigation will turn out to be limited to a single ousted company officer. I know that's a gut issue. I know that criminal investigations should (and do) freak people out. I know that I don't like Freddie Mac as a company because of its lack of transparency.

But I also know that the new guy running it, Greg Parseghian, knows the portfolio and would not have taken the job or be allowed to take the job if he were "in on it," so to speak. I think the stock's good for a trade.

Texan? I am no fan. I own Skyworks Solutions ( SWKS), the leveraged play on cell-phone innards and I think it represents much more value than Texas Instruments. But this weakness was well telegraphed and I would go the other way now and buy the stock for a trade. The analysts who were recommending this thing had to have been clueless because everyone, and I mean everyone, suspected that this stock could be blow up.

These are trades. They are not investments. I am not buying these stocks for my Action Alerts PLUS account because I would not want to own them for at least a month.

But I think they work here.

Random musings: RealMoney's free today. Check it out and get all of my thoughts on this market!
James J. 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. At the time of publication, Cramer was long Skyworks Solutions. 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 to jjcletters@thestreet.com. Listen to Cramer's RealMoney Radio show on your computer; just click here. Click here to buy Cramer's latest book, "You Got Screwed!" Click here to order Cramer's autobiography, "Confessions of a Street Addict."

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