Jim Cramer was enthusiastic on Friday night’s Mad Money after the Dow gained 267 points but he is still cautious, noting that the US markets are still held hostage by the debt situation in Europe, “even if most of our companies aren’t.” Cramer thinks that once the EU unveils a plan, or at least a number, its going to be enough to set things on more solid ground within the markets.
Here are Jim Cramer's stock picks and their performance since October 22nd (SPY lost 1.2% since then):
Ross Stores (ROST) (Down 1.4%): Cramer says that ROST made new highs last week, and he thinks they were well deserved. It same-store sales were up while inventory per store was down 7%. Even though the company raised its third quarter guidance, Cramer thinks it still has plenty of room to expand in the US, particularly in the current economic atmosphere, but Cramer isn’t buying yet. He advised viewers to wait until it comes down off its current 52-week high. Ken Griffin is bullish on ROST. His Citadel Investment Group has more than $200 million in the company (check out Ken Griffin’s top picks). For more info on Jim Cramer, please go to Insider Monkey's site.