It was a miserable day, Slow Jobs Growth, Higher Oil.
We’re not in nirvana anymore are we? Miserable day but it didn’t have to be this way. You could have been selling into strength and buying the stuff that does well when the economy is in the soft patch. When you have a stalled economy you buy health care. You buy UNH. You buy the small and intermediate sized oils, XEC, HAL. Or you buy stuff that has the cycle, BA. Or you go into aisle 4 and aisle 7, how about the cereal stocks? GIS, K. You gotta know this downturn means to buys the PEP, GIS, UNH, ECA, CI you buy the stuff that doesn’t need the economy to rock.

Q: Does today’s report make MAN a buy?
A: No. At this particular stage you should NOT be buying the temporary employment companies. I urge you to think specialty health care. It is better to own a small health care cost containment company that anything having to do with employment.

Q: Should I sell retail stocks and move into oil stocks?
A: I sold my URBN a couple of weeks ago because we are in nose bleed territory. The conclusion should not be to go into XOM, CVX, BP, RD those have had their day. We are in the eighth inning with oils. Those that will still work are the medium sized oils – BBG, XEC, these make sense to me. I need you to take profits in the major oils. The bottom line: I still like oil but I don’t have that love affair going on anymore.

Q: Give us your opinion on the pharmaceuticals
A: I don’t like to buy stocks with no growth that have dividends. I like to buy stocks that have dividends with growth. With MRK, I don’t see a lot of growth there. I happen to like WYE, PFE, SGP. But, I don’t see those companies doing as well as DNA. I want to caution you that while I think that PFE can go higher, I think that the big gains will not be in old pharma but will be in biotech – DNA, GILD, GENZ, and in the health care cost containment companies – UNH is special to me as its not expensive and has more growth. The economy right now is too cold for most of the stocks that I follow. What I need you to do is focus on what’s in the supermarket. PEP, UNH, GIS. I don’t want you to have that economic sensitivity. If you still have it I think you’ll be in the house of pain.

When I think Whole Foods (WFMI) I think Google (GOOG).
They are expensive stocks that really might be cheap. When they are put on sale I really notice. The analyst was right to downgrade WFMI because it had reached his price. This is authentic Wall Street gibberish. If you get sucked into that you’re going to sell the SHLD at 60, the GOOG at 100 and you’re gonna give up on WFMI. Here is what you do. One man’s downgrade is another man’s feast. Maybe you buy 25 shares here if you want to end up owning 100. What you need to do is be able to say ALL ABOARD when someone downgrades a high quality stock. You don’t need to run from it, you walk to it. Just like GOOG down 7, WFMI down 5 – that should be a bell going off saying I’ve been waiting to get into that for a while, I’ve been waiting for a sale. If every time a major department store threw a sale do you think that’s because everything got ripped and has moths? No. Nobody ever made a dime panicking. I want you to do a little bit of buying and let it come to you at your prices. BULL.

Q: Is HANS a cheaper way to take advantage of WFMI?
A: We like to buy the actual play, not the derivative play here. Greenberg is worried about Clearly Canadian. At one time they were the hottest drink company in the world and it crashed and burned. Greenberg doesn’t want you to crash and burn. He’ll say – I saw that movie before and it ends badly. I’ll say – I saw that movie before and the middle is great and I leave right after it.

Q: Is it possible that WFMI is riding on a dietary fad?
A: I think that people want to eat healthy and they feel, correctly that the big supermarkets don’t protect them from unhealthy foods. People feel like Whole Foods protects them. That’s a good housekeeping seal of approval that you don’t have to pay much for and that stock can go up 20% in revenues for the next 5 years before they start bumping into each other.

MAD MONEY MAIL - MAILBAG:

Q: Should I get back into SHLD?
A: Eddie Lampert is turning around SHLD. I own stock in it, up $100 and I don’t care. We need to care more about where it’s going then where it came from. Buy one share and buy more when it comes in.

Q: Gotta call a personal foul on the 50% off club:
A: What I said is that I need you to get involved in the market and this might be the way. I wasn’t breaking my discipline to say that history matters more than the future. MOT is a very inexpensive stock/

Q: What is an acceptable percent that margin should represent?
A: ZERO. We don’t borrow money to buy stocks, just homes.

David Jaffe, President and CEO of Dress Barn (DBRN) joins Cramer:

Q: Any possibility you can raise your margins?
A: We certainly see an opportunity to increase our margins.

Q: Tell us about Maurices, which you acquired:
A: Based in the Midwest, have nearly 500 stores. Appeal to 17-34 year old demo, which is slightly different than Dress Barn. They are also willing to go into small markets and become a fashion destination.

Q: What’s the campaign for fall marketing?
A: We’re trying to give the customer great, current fashions that fit her lifestyle. This is not the old Dress Barn that may have had things that looked a little dowdy. This has merchandise that is current and at prices that you can’t get at department stores.

Cramer’s Summary: I missed CHS and BEBE. This Dress Barn is a very inexpensive stock. BULL – I think Jaffe knows what he’s doing. This could be the next thing and you will not regret taking a good look at it, do the homework. I’d pull the trigger if I were you.

Not all resignations are a big deal:
The Morgan Stanley resignations today are meaningless.

COGN, MSTR, BOBJ – I think there is more pain ahead for these.
I’m worried about software, SEBL worries me, Oracle (ORCL) worries me. I think CA could be struggling here too. Extrapolate the COGN by saying that MSTR and BOBJ are not for me.

Disclaimer: I AM NOT JIM CRAMER. I sometimes write the summary in first person because my brain doesn't quite move fast enough to process and type at the same time, so please excuse that. This blog has no affiliation with Jim Cramer, CNBC, or Mad Money. If you'd like to contact Cramer email him at madmoney@cnbc.com, or call 1-800-743-CNBC. This is done for you and I to be able to better track and follow Cramer’s comments. The show goes by quickly so I try and catch as many keywords as possible for each stock because of this, ACCURACY IS NOT GUARANTEED but is however strived for.

NOTE: I've added today's closing price to each of the stocks listed below.

UNH - 50.6 - UnitedHealth Group Inc. - You buy this when you having a stalled economy
XEC - 39.2 - Cimarex Energy Co. - You buy this when you having a stalled economy
HAL - 43.41 - Halliburton Company - You buy this when you having a stalled economy
BA - 64.66 - Boeing Company, The - You buy this when you having a stalled economy
GIS - 50.59 - General Mills, Inc. - You buy this when you having a stalled economy
K - 46.18 - Kellogg Company - You buy this when you having a stalled economy
PEP - 56.01 - PepsiCo, Inc. - You buy this when you having a stalled economy
ECA - 35.93 - EnCana Corporation (USA) - You buy this when you having a stalled economy
MAN - 40.98 - Manpower Inc. - At this stage you shouldn't be buying this
XOM - 57.15 - Exxon Mobil Corporation - They've had their day
CVX - 55.06 - ChevronTexaco Corporation - They've had their day
BP - 61.33 - BP p.l.c. (ADR) - They've had their day
RD - 59.33 - Royal Dutch Petroleum Company (ADR) - They've had their day
BBG - 30.51 - Bill Barrett Corporation - Right here

The Lightning Round:

MOVI - 32.14 - Movie Gallery, Inc. - BEAR
BBI - 9.41 - Blockbuster Inc. - Don't want to own it
JNPR - 25.22 - Juniper Networks, Inc. - ring the register - ffiv is fast and better
TASR - 11.1 - TASER International, Inc. - BEAR - that's in major bear mode
ELN - 7.03 - Elan Corporation, plc (ADR) - DIVE DIVE DIVE DIVE SELL SELL SELL SELL SELL SELL SELL SELL SELL
IBM - 75.79 - International Business Machines Corp. - Worried about the quarter - BEAR - Sell it
VTSS - 2.45 - Vitesse Semiconductor - Pig - BEAR - personal foul - stay with best of breed - INTC
ECA - 35.93 - EnCana Corporation (USA) - What's not to like - BULL - Land bank, natural gas, coal bed methane - HALLELUJAH!
COP - 55.01 - ConocoPhillips - The most levered to oil - I want you to ring the register - take the gain from the split
SIRI - 6 - Sirius Satellite Radio - Think the smart money likes XMSR more - sorry Mel Karmazin
AKAM - 13.74 - Akamai Technologies, Inc. - I don't like anything about it - BEAR - ring the register
CAJ - 54.44 - Canon Inc. (ADR) - You gotta go to Tokyo to get a bad tech stock? BEAR - I don't want to own it
TGA - 5.56 - TransGlobe Energy Corporation (USA) - Canadian oil company with interest in Yemen - that's the kind of thing that's just too hard for me.
AMED - 31.29 - Amedisys, Inc. - Home health care nursing - this is the play on the nursing shortage. Good play, niche health care - BULL
CME - 246.19 - Chicago Mercantile Exchange Holdings - Very good company - ring the register, its too high - this is WFMI at 150, GOOG at 350 take the profit
PLL - 28.79 - Pall Corporation - Go from PLL to PNR, one that I own
PNR - 43.75 - Pentair, Inc. - try to get it before 43 if you own PLL
CHK - 21 - Chesapeake Energy Corporation - Had them on when it dropped to 19, they were buying at 21, 22 - BULL - Hold on to that - it’s the kind of medium size natural gas company that is so for me at this point in the cycle
SOV - 22.36 - Sovereign Bancorp, Inc. - I'd rather be in PNC - swap into that now
UCOMA - 9.17 - UnitedGlobalCom, Inc. - Broadband communications? Are you in a cave? I don't wan you in UNTD or EarthLink either.
UNTD - 10.98 - United Online, Inc. - Don't want you in this
ELNK - 9.29 - EarthLink, Inc. - Don't want you in this
TMA - 30.45 - Thornburg Mortgage, Inc. - Ring the register - dividend is fine, we want NLY instead
NLY - 18.83 - Annaly Mortgage Management - The heck with Greenberg, he doesn't know what he's talking about on this stock
WSTL - 6.42 - Westell Technologies Inc. - SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL
HON - 36.34 - Honeywell International - BULL - like the guy running the company - I like the stock
SYY - 37.43 - SYSCO Corporation - BULL
CSCO - 19.4 - Cisco Systems, Inc. - BEAR - dive - sell sell sell - move on, there is life after Cisco
SM - 26.83 - St. Mary Land & Exploration Co. - Crude oil, like it BULL
BG - 61.95 - Bunge Limited - SO for me, Sell ADM, Deere - buy Bunge
OATS - 11.47 - Wild Oats Markets, Inc. - Best of breed guy - endorse WFMI but not OATS
MRK - 32.09 - Merck & Co., Inc. - SELL SELL SELL
PDE - 23.68 - Pride International, Inc. - BULL - so RIGHT here.
CCMP - 30.91 - Cabot Microelectronics Corporation - BEAR - get INTC instead, its raising numbers by the day
ASEI - 38.76 - American Science & Engineering, Inc. - BEAR - Poor mans, LLL - no way
XTO - 31.49 - XTO Energy Inc. - That's like XEC, exactly where I think you should be BULL
OII - 38.16 - Oceaneering International - Raising numbers - BULL - taking advantage of the high nat gas prices - those guys are winners in my book
POOL - 36.05 - SCP Pool Corporation - BULL - the way to play the advancing price in homes that everyone else thinks is a bubble but you and I know better
CAB - 20.28 - Cabela's Incorporated - BULL - sticking with them cause I like the stores
BKST - 20.15 - Brookstone, Inc. - That's done - its got a bid - ring the register
NUS - 23.07 - Nu Skin Enterprises, Inc. - BEAR - go with JNJ instead
TXI - 46.15 - Texas Industries, Inc. - Cement was last years play - don't want to own Cemex either
AMX - 56.97 - America Movil S.A. de C.V (ADR) - Only Mexican stock we're endorsing
COGT - 21.3 - Cogent, Inc. - Fingerprint id is so right - like the sector, like is so much more than laser card - BULL, I'm sticking with it
HD - 39.72 - Home Depot, Inc. - BULL - I do like the company
SVM - 12.88 - ServiceMaster Company - Good company not great.
JCI - 56.41 - Johnson Controls, Inc. - This is an auto supplier that is doing great, also have a terrific chemical business - I'd ring the register out of deference to some of the bear stories

JDSU - 1.58 - JDS Uniphase Corporation - SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL DIVE DIVE DIVE DIVE DIVE DIVE DIVE DIVE
NT - 2.86 - Nortel Networks Corporation (USA) - SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL DIVE DIVE DIVE DIVE DIVE DIVE DIVE DIVE
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