Jim Cramer: Buy Home Depot, Sell Halcon Resources, and 3 More Stock Picks

Jim Cramer made the following calls on November 7th, 2013. What do you think about his picks?

The Home Depot, Inc. (NYSE:HD): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on November 4, 2013. The stock’s 52-week high is $81.56, and its 52-week low is $60.21. Cramer said that he would look for any opportunity to buy The Home Depot, saying that markets may respond to news such as the European Central Bank’s rate cut and a stronger dollar in a negative manner. Cramer remains a fan of The Home Depot overall, saying that it has potential to go higher as the American economy picks up steam.

hd-20131108

Halcon Resources Corporation (NYSE:HK): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Buy on October 24, 2013. The stock’s 52-week high is $8.28, and its 52-week low is $4.41. Cramer was surprisingly pessimistic about Halcon Resources, saying that the company has to get it together in order to start performing up to his expectations. He noted that making their production goals was something that Halcon should focus on to turn things around.

hk-20131108

Alliance Fiber Optic Products Inc. (NASDAQ:AFOP): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Buy on July 24, 2013. The stock’s 52-week high is $23.94, and its 52-week low is $5.08. Cramer was not a fan of Alliance Fiber Optic Products. He said that, now that Google (NASDAQ:GOOG) is doing fiber optics, he would pick Google instead of Alliance if one is looking to invest in that area of technology.

afop-20131108

EOG Resources, Inc. (NYSE:EOG): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on November 5, 2013. The stock’s 52-week high is $188.30, and its 52-week low is $112.05. Cramer sat down with Mark Papa, the CEO of EOG Resources, to talk about the company’s performance in the wake of a small earnings beat for the past quarter. Papa noted that the stock still ended the trading down slightly, despite prospects in the Bakken Shale being set to satisfy EOG’s growth plans for the next five years by themselves. Though Papa remarked that the Permian Basin may cool off in terms of oil growth in the coming year, he pointed to a number of other great up-and-coming areas, such as the Delaware Basin. Cramer was, of course, still ready to give his endorsement to EOG, one of his favorite picks.

eog-2013108

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Buy on October 22, 2013. The stock’s 52-week high is $39.54, and its 52-week low is $26.37. Cramer said that he could not recommend Freeport-McMoRan, noting that he felt that the company was overpriced. He said that there are other companies in the sector that have a more reasonable cost, and are poised to deliver a similar pattern of results to Freeport-McMoRan, making them better alternatives than the company.

fcx-20131108

Investing Insights: Will J.C. Penney Continue to Be Vulnerable With Upcoming Earnings?

More from The Cheat Sheet