Focus on market segments -- not the market as a whole -- to find opportunities, said Jim Cramer on his
"RealMoney" radio show Monday. If you sat out September because it's historically a "bad" month for the market, you missed the bull markets in oil, minerals, telecom and Google ( GOOG), said Cramer. And "you missed the easiest money that was made this year." Cramer advises: Don't make decisions based on the market. Make decisions based on the sector. If the sector is out of favor, ignore it. If the sector is in bull market mode, buy "best of breed" stocks. At times, you can even buy worst of breed if the sector is strong enough.
Conexant Systems ( CNXT): Conexant is part of Cramer's fourth-quarter tech rally thesis. For the first time in five years, Cramer is seeing a big increase in spending by telecommunications providers such as SBC Communications ( SBC), BellSouth ( BLS) and Verizon Communications ( VZ), which will benefit Lucent ( LU), JDS Uniphase ( JDSU) and Conexant ( CNXT). Altria ( MO): Cramer sees little risk from Canadian lawsuits and believes that the high point of litigation has been reached. He puts the potential break-up value of MO at $105. Altria traded at $74.57 Monday afternoon. Washington Mutual ( WM): Cramer doesn't like banks now, and he especially doesn't like Washington Mutual, which just bought a "second rate" credit card company in Providian. "There are so many other sectors that are so much better," said Cramer.