Cramer's 'Stop Trading!': Jump on JNJ

"I regard that as the premium name in this market," Jim Cramer said of Johnson & Johnson ( JNJ) on Friday's "Stop Trading!" segment on CNBC. "It is probably the most pristine franchise of all."

The stock, which Cramer owns for his Action Alerts PLUS charitable trust, was downgraded earlier this week. "That was one of the single most unintelligent downgrades," said Cramer. "If you're going to have a market ramp like this one is, JNJ is going to go up with it."

Another stock Cramer owns for Action Alerts PLUS is VF Corp. ( VFC). "It's really been terrific weather for VFC. It's been terrific weather for retail," he said. "This stock makes a lot of sense to me."

VF Corp. has lowered expectations, pays a big dividend and is down 30 points, Cramer said. "For the first time, you do not have any expectations at all with this company, and I like that," he said.

Visa ( V) and Mastercard ( MA) are "transaction-based companies," Cramer said. "I think the business models are great. I think the owners were hedge funds," and the hedge fund selling is over, he said.

At the time of publication, Cramer was long Johnson & Johnson and VF Corp.

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. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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 clicking here.

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