By Scott Rutt 04/12/11 - 06:39 PM EDT
Add CommentStock quotes in this article VN Search Jim Cramer's Mad Money trading recommendations using our exclusive Mad Money Stock Screener and watch Jim Cramer's Mad Money Post Game video exclusively on TheStreet.com.
More on DVN
Oil Prices Tank as Goldman Says 'Sell' CommoditiesCorn Prices Hit High: Market BitsNatural Gas Falls For 4th Day: Market BitsMarket Activity
Devon Energy Corporation| DVN
--------------------------------------------------------------------------------
NEW YORK (TheStreet) -- "I can't hate this market as much as I did 24 hours ago," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday, as he explained how today's market is not a replay of the monster sell-off in 2008.
After weeks of telling viewers to take profits and raise cash, Cramer said today's market plunge is changing the game and is creating more opportunities to buy rather than sell.
What's different? Cramer said today's fall in the price of oil is proving that it's not 2008 all over again and the markets are not poised for a huge fall on back of sky high oil prices.
Cramer said that $110 a barrel oil is not that same as the $147 a barrel we saw in 2008, and its quick retreat today may be the start of something good. Cramer also said that with the U.S. economy on the mend, China almost done raising interest rates and Japan beginning to rebuild, there's still a lot to like about this market.
But despite these positives, fund managers are still playing from the 2008 play book, selling the industrials and oil stocks in favor of high growth names like Chipotle Mexican Grill (CMG_) and Netflix (NFLX_), along with Panera Bread (PNRA_) and even McDonalds (MCD_). Cramer said this is creating great opportunities to buy in at lower levels.
Cramer said it would be stupid to give up on the industrial stocks at these levels, especially with so many good things ahead. He also said that retail stocks have proven that consumer sentiment is not as bad as everyone feared and $4 a gallon gasoline hasn't yet taken a bit out of household budgets.
Cramer said there still are some negatives to be concerned about, mainly the raising of the federal debt ceiling, but with oil prices falling and fund managers creating opportunities, there's a lot more to like now than just a few days ago. |
发表于 2011-4-12 19:52
| 
