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Cramer on BloggingStocks: Stunning elections put health care names back in play

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TheStreet.com's Jim Cramer says stocks like WellPoint are buys again because the months of rhetoric will end.

Buy WellPoint (NYSE: WLP) (Cramer's Take). Right now. That's what I thought the moment I saw Chris Christie's shocking triumph in my home state last night. It was a stunning referendum of the anti-jobs nature of health care and how the Democrats are now being tagged with job losses and a health care obsession that hurts hiring.

Not everyone has a seat as safe as Nancy Pelosi. Many have seats thought to be as safe as Corzine's. They have to be shaking today.

I think today is the day the health care obsession ends and people start focusing on what you should pay for an 11% grower with a terrific balance sheet and cash up the wazoo that just printed a fantastic quarter.

Today's the day you buy WellPoint. And any of the other health care companies that have been staggered by months of rhetoric.

Today is multiple expansion day for the sector -- that's the only way to look at what happened.

Chris Christie.

I can't believe it.

Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer had no positions in the stocks mentioned.

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Symbol Lookup
IndexesChangePrice
DJIA-14.2810,318.16
NASDAQ-10.782,146.04
S&P 500-3.521,091.38

Last updated: November 22, 2009: 01:57 PM

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