On today’s STOP TRADING segment on CNBC, Jim Cramer addressed the drop today potentially being a rough day because of options expiration and with so many people having left the trading desks for the day. He thinks it would be easy to drive down the market today in a thin market. On commodities, Cramer said a lot of people have walked away from there worrying about Subprime lows. The markets in commodities are run by Chinese demand so unless there are subprime blowups not discovered tying commodities to subprime woes is a bad call.
Freeport (FCX-NYSE) is one he likes after a deal.
CVRD (RIO-NYSE) is his best play for nickel.
BHP Billiton (BHP-NYSE) is one he thinks has bottomed.
On deep water drilling, the GlobalSataFe (GSF) and Transocean (RIG) are the best there.
Cramer did stress these are the ones he likes, but he thinks today will be an easy day to drive prices down.
Jon C. Ogg
March 16, 2007
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