Jim Cramer, TheStreet’s Action Alerts PLUS Portfolio Manager and host of CNBC’s ‘Mad Money,’ said he wants to buy more Bank of America(BAC) shares on a pullback. Cramer made the comments when explaining changes he would make to his charitable trust portfolio following Friday’s strong jobs report. Cramer said he needs to own more banks, as a play on rising interest rates. He added that he wished he bought more Bank of America stock when he sold out of Morgan Stanley(MS). Cramer said the portfolio owns a little too much healthcare because of its positions in Biogen(BIIB) and Allergan(AGN), and he’s not currently happy with his Kraft Heinz(KHC) position but he’s taking a longer term view because it’s a stock Warren Buffett holds. A viewer sent in a social media question about whether the strong dollar would hurt 3M(MMM). Cramer said the dollar is a negative for 3M, but the company’s CEO knows how to grow the company and create new products, which will trump any currency weakness. Another viewer asked whether it was time to sell shares of FireEye(FEYE) based on its disappointing earnings report. Cramer cautioned that the stock isn’t making any money, so it’s hard to determine a valuation for it. Another viewer asked about Under Armour(UA), which Cramer does like longer term. In the short term, Cramer is worried how retailers are being impacted by warmer weather. He said a cold snap would benefit Under Armour, VF Corp.(VFC) and Columbia Sportswear(COLM). Cramer was asked about Carnival Cruise Lines(CCL) and he said he prefers Royal Caribbean Cruises(RCL) because they have ‘more ships going to the right places.’ Cramer answers viewers’ social media questions each day on TheStreetTV. Send questions to Cramer on Facebook(FB) or on Twitter(TWTR), using @JimCramer, with the hashtag CramerQ.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.