On today’s STOP TRADING segment on CNBC, Jim Cramer said the market is acting like it is immune to falling.  Even subprime lenders, FHN-First Horizon and CFC-Countrywide are rising without a Countrywide deal yet.  Cramer again talked about Illinois Tool (ITW) and Black & Decker (BDK) showing that it it happening ahead of the fed is a good indicator.

On natural gas up 11% and crude up 8%, Cramer agreed with SunTrust’s call to be in natural gas.  SunTrust’s picks are ATPG BBG BEXP CHK EOP EPEX ROSE.  The one Cramer noted as the play in the area if you are a true believer is Grey Wolf Inc. (GW-NYSE).

Jon C. Ogg
January 30, 2007