Bearish Comments From Jim Cramer Drop Freeport McMoran

The Dow Jones industrial average dropped 12 points on Tuesday as the markets took a breather from the rally of the last couple of weeks. On Monday’s Mad Money show, Jim Cramer predicted a pullback in the stock market after the recent string of strong days. 

Mr. Cramer predicted that one of the main casualties of a market pullback would be Freeport McMoran (FCX: 46.53 0.00%). The stock dropped 2.3% on Tuesday, but Cramer believes that Freeport and other industrials will likely pullback 5%. 

Thompson Creek Metals (TC: 9.34 0.00%) also felt the “Cramer effect”, dropping 4.1% on Tuesday. Cramer recommended investors take some of their money out of Thompson Creek after the tremendous run the stock has had since trading below $4 in March. 

Finally, Geron Corporation (GERN: 2.07 0.00%) fell 4.4% on a sell recommendation from Mr. Cramer. Cramer believes the stock is too speculative and prefers Gilead Sciences (GILD: 54.27 0.00%) and Celgene (CELG: 72.86 0.00%) to Geron which he says to “sell, sell, sell.” Both Celgene and Gilead Sciences posted nice gains though on the bullish comments by Cramer. 

Other Cramer stock picks: 

Bank of America (BAC: 8.13 0.00%) gained 1.9% – Cramer believes the stock has huge upside and expects the stock to jump to $18.

Wells Fargo (WFC: 30.63 0.00%) rose 1.2% – Cramer says that financial stocks like Wells Fargo are worth buying since negative expectations are already priced into the stock.

Arm Holdings (ARMH: 26.96 0.00%) rose 0.5% – After Cramer said he liked the stock better than Research in Motion (RIM: 0.00 N/A).