Cramer now thinks that the big cyclicals like Boeing Co. (NYSE:BA), Caterpillar Inc. (NYSE:CAT), United Technologies (NYSE:UTX), Deere & Co. (NYSE:DE), Ingersoll-Rand (NYSE:IR), and Freeport McMoRan Copper & Gold (NYSE:FCX) have bottomed. A specific company -- Haynes International (NASDAQ:HAYN) -- is one you will hear a lot about from Cramer. It sold 1 million shares for itself to bolster the balance sheet. It is in performance metals and in the same group as Allegheny Technologies (NYSE:ATI). He thinks the demand for its products is big and now the company got itself off of the pink sheets and has enough stock to make it an in-demand stock and liquid. HAYN is now up 2.4% to $69.50 per share in after-hours, and Cramer thinks it is going higher after shoring up its balance sheet.
Jim Cramer said the action of the Defensive Stocks makes you need to watch the drug stocks in case the Fed doesn't actually cut rates like they should. Cramer has some picks in the sector from overseas, because these could be immune from the same pressures that domestics could be under in a Democratic environment. Novo-Nordisk (NYSE:NVO) out of Denmark is the best play because they have 50% of the global diabetes market in its insulin treatments. It outsells Pfizer Inc. (NYSE:PFE) and Sanofi-Aventis (NYSE:SNY) in these analogue insulins. Its patents are good through 2011 -- longer than most. It already sells its old-fashioned human insulin play at low prices. It also fell on failing a Phase III trial in a non-diabetes treatment drug for an expanded use. He likes it purely from the diabetic perspective. If this stock is familiar-sounding from us, it is because this is one of the "15 Second-Line Defensive Stocks" we ran.
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