By Stockpickr Staff
Posted on March 23, 2009


A toxic asset plan peppered with positive housing news made for a great start to the week.

Wall Street soared after the Treasury revealed its plan to use government and private resources to buy up to $1 trillion in risky assets from troubled banks. Markets jumped more than 5%, indicating that investors view the plan as a positive step toward stabilizing the financial system.

In housing news, sales of previously occupied homes jumped 5.1% in February, according to National Association of Realtors. The news helped push markets up despite data showing that the median sales price dropped a staggering 15.1% from the previous year.

Market gains were broad-based. Outside of bank and housing stocks, big movers for the day included American Express (AMEX), Boeing (BA) and Alcoa (AA).

With this in mind, we thought we'd take a look at some of the stocks people have been searching for on TheStreet.com and see what Jim Cramer's had to say about them lately.

These stocks could be in the news for a number of reasons. Some require immediate attention while others may not. Regardless, it never hurts to hear what Cramer (or any of the other professional investors on the site) has to say about them. The key is to gather as much information as you can in order to make the most informed investment decisions you can.


In a recent post to his RealMoney blog, Cramer had this to say about Suncor (SU):

"Too many good things are happening for me to be worried about anything but the overbought nature of the market. The uniform nature of everyone saying this is a bear market rally encourages me to think that it isn't. You can't have people worried about inflation right now without believing that we are going to end deflation. We know from this period that deflation is real difficult to combat. It is the real reason why there isn't any lending going on. You lose when you loan.

"If we knew assets were going to appreciate in value, even as we know Ben Bernanke has the ability to raise rates and slow it all down if necessary, then the banks would be thrilled to loan and private capital would be thrilled to borrow to get long.

"I regard all of the inflation chatter as good news, as I regard the weak-dollar chatter as good news.

"I think we are poised to see money coming in and companies merge -- the Suncor-Petro-Canada (PCZ) deal is not in a vacuum -- and I think we are about to have a bit of a short squeeze that will be perceived again as a bear market rally as it occurs.

"Ultimately, you can monitor this one easily: Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS) and JPMorgan Chase (JPM) will give you the temperature of the situation.

"I think they are the signs that it is not a rally in a bear market. It is simply a rally of great significance, because things are getting better, not worse. Hence why we are overbought to begin with, even as many, many stocks are not overbought because of the intense selling pressure that was exhibited on the weak-dollar stocks. You can have many stocks rally even as the oscillator becomes less overbought, simply because lots of stocks are way, way down from where they were even as a broader rally occurred.

"This kind of action is what happens at bottoms, not tops. That's what happened in the past, although obviously the economy is much worse than in the past. But remember, the retracement back to the 6300 level on the Dow represented a 57% decline in the market, representing the second-worst bear market in history.

"Hard to have the worst ever, given that the Great Depression was the reason for that one, and I still think that the depression we are in, the garden-variety one that began after Lehman Brothers failed, isn't worth an 85% decline in the averages."

For more of what Cramer's had to say about some of Monday's top-searched stocks, including Dr Pepper Snapple (DPS), CBS (CBS) and Seagate Technology (STX), check out Cramer's Take portfolio on Stockpickr.

P.S. Where is Cramer putting his own money? Take a free peek at his personal portfolio to see all his buys and sells by clicking here. When you do, Jim will also send you exclusive email alerts telling you everything he’s about to add to or shed from his Action Alerts PLUS portfolio -- before he makes his trade.

(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer owned Morgan Stanley, JPMorgan and Wells Fargo for his Action Alerts PLUS charitable trust.)