The financial reform bill has certainly caused some consternation among the financial stocks. Wall Street always hates uncertainty and the ambiguity of the 2,000 pages of the financial reform bill has caused plenty of it.

Yesterday, the Dow close down 268 points in what Jim Cramer described as a “horrible, stinking bad day” that was reminiscent of “Stalingrad or Verdun.” Well, maybe not quite that bad.

After looking at the carnage of the financial sector there is one stock that Cramer feels offers investors lots of upside.

Cramer describes Citigroup (C: 33.30 0.00%) as a “pitiful giant”. The stock has suffered from a mishandled attempt by the Treasury to sell their stake in Citi. These strong selling pressures have pushed Citi’s stock price down and there’s more still to come.

However, on a technical basis it appears that Citi is oversold. The Street.com technical analyst Tim Collins believes that the current prices provide a good entry point. He predicts that the stock could rise to $4.60 – $5.00 in the short term.

Cramer is even more positive on the fundamentals. He has faith in CEO Vikram Pandit and likes the firm’s mix of domestic and international business. Most importantly, Cramer believes that Citi has little exposure to housing which is once again become a huge problem area.

Cramer set a $12 price target for Citigroup over the long term. He recommends that investors buy Citi at its current levels.

Anadarko Petroleum (APA: 102.92 0.00%)
Jim Cramer interviewed Anadarko Petroleum’s CEO Jim Hackett on yesterday’s Mad Money show. Mr. Cramer has been very bullish on the prospect of natural gas being a bridge fuel from oil to wind or solar energy. Cramer feels that APA is one of the best natural gas stocks and believes that natural gas stocks could double. Despite the bullish endorsement, Anadarko’s stock slid 2.4%.

Fannie Mae (FNM: 0.00 N/A)
Another stock that seemed to buck the “Cramer effect” was Fannie Mae. Cramer said investors were foolish to speculate on Fannie Mae and Freddie Mac (FRE: 0.00 N/A) given their uncertain future. However, investors seem to shrug off the warning that these shares could eventually be worthless and Fannie Mae’s stock shot up 9.4%.

Banco Bilbao (BBV: 0.00 N/A)
Banco Bilbao, the Argentina bank stock, rose 5.4% on Tuesday after Cramer said he preferred the stock over Banco Santander (STD: 8.46 0.00%).

TJX Companies (TJX: 34.32 0.00%)
TJX rose 3.6% after Cramer featured the stock in his weeklong special feature on discount retailers. While Cramer likes TJX’s clean balance sheet and growth, he believes the stock has little upside left. The company is no longer benefitting from retailers dumping inventory at fire sale prices and is currently having trouble with their Marshalls and Homegoods stores. Cramer thinks TJX has seen better days and is bearish on the stock. However, bullish investors seem to have ignored his warnings.

Other Cramer stock picks:

First Solar (FSLR: 46.495 0.00%) rose 3.3% – Cramer is bullish on solar stocks even though they are out of fashion right now.
Citigroup [[C] gained 1.1% – Again investors didn’t seem to heed Cramer’s warning that the stock has already gone up too much too fast.

Citigroup (C: 33.30 0.00%)
Jim Cramer appears to become Citigroup’s biggest fan since finally recommending the financial stock on August 6^th. Citi shares jumped 8.5% after Mr. Cramer anointed the company as the next big turnaround play similar to Chrysler in the 1980’s. Back in 1980, Chrysler was saved from going completely under by some timely government assistance. Investors who bought Chrysler shares ended up with phenomenal returns and Cramer thinks Citigroup is following the same story line and recommends buying the stock.

Wells Fargo (WFC: 30.20 0.00%)
Another financial stock that got a boost from the Cramer effect was Wells Fargo. The bank stock gained 3.3% today after Cramer said he still likes the stock.

Brandywine Realty Trust (BDN: 11.32 0.00%)
Brandywine Realty Trust gained 5.2% after Cramer interviewed CEO Jerry Sweeney on last night’s show. Mr. Sweeney argued that commercial real estate isn’t nearly as bad as the media headlines would indicate. He feels that commercial space will rebound along with the broader economy as companies look to expand once again. Mr. Cramer is bullish on the stock, because he feels it’s cheap and it has a 4% dividend yield.

Other Cramer stock picks:

Wellpoint (WLP: 64.37 0.00%) rose 1.9% and Triple-S Management (GTS: 22.09 0.00%) rose 1.0% – Cramer said that while we still don’t know much about President Obama’s healthcare plans, his reforms are not likely to impact either stock. Mr. Cramer expects both stocks to rise another 10-15%.
Walt Disney [[DIS] gained 1.6% – Cramer thinks the stock is a great play on a recovery in the advertising market and is puzzled why more investors are jumping in.
Family Dollar (FDO: 57.53 0.00%) fell 0.5% – Cramer recommends selling the stock.

Toll Brothers (TOL: 23.28 0.00%)

The housing builder gained 3.3% after positive comments by Jim Cramer. Toll Brothers CEO Bob Toll has been talking up his company’s performance lately, but Cramer believes him. The reason being that “no one was more negative than Bob Toll this time last year” which lends more credence to his recent bullish comments.    

Citigroup (C: 33.30 0.00%)

The financial stock gained 3.5% on a strong sector performance. Cramer doesn’t expect Citigroup to pull back either. Mr. Cramer set a $6 price target for the bank on August 6^th and believes that a turn is coming. 

Urban Outfitters (URBN: 27.48 0.00%)

Urban Outfitters jumped 3.3% today after Cramer said it was broken stock and not a broken company. The company reported strong quarterly results and has a clean balance sheet. Cramer believes this provides management with a lot of options to either buy back stock or make acquisitions. Cramer believes the stock is cheap and sees it going up 50%. 

BB&T (BBT: 28.82 0.00%)

Jim Cramer stated that BB&T is still cheap and recommends that investors get in now. The bank stock rose 4.2% after recently being given a gift by the FDIC in being allowed to take over the assets of Colonial Bancorp (CNB: 0.00 N/A). The takeover will make BB&T the 8^th largest bank in the country. Cramer thinks the deal will boost the company’s EPS and has “enormous upside”.

Two of the day’s big gainers, Citigroup and Clean Energy Fuels, received a nice boost from bullish comments by Mad Money host Jim Cramer on Tuesday nights show. 

Citigroup (C: 33.30 0.00%) jumped 7.9% on Wednesday after Cramer said the stock is “red hot” and should reach $6. Cramer believes that investors who sell Citigroup stock right now are making a big mistake. The biggest issue that Cramer still has with Citigroup is the US government’s 34% stake in the company, but he believes the government will sell this stake on September 10. Once Uncle Sam is out of the company’s affairs, Cramer believes the stock will thrive. 

Clean Energy Fuels (CLNE: 16.08 0.00%) was also lifted by the “Cramer Effect”, rising 7.8% in Wednesday’s trading session. Cramer has been a big proponent of natural gas and now thinks that Congress might finally begin subsidizing natural gas as a bridge fuel between crude oil and the cleaner energy alternatives. If that takes place, Cramer expects that Clean Energy Fuels will be one of the big beneficiaries. However, Cramer did warn investors that he considers it a speculative stock.

JC Penny’s (JCP: 41.27 0.00%) jumped 9.7% after Cramer said he thinks the retailer will have a great back-to-school season. He also recommended Urban Outfitters (URBN: 27.48 0.00%) which gained 6.8%. 

One financial stock that Cramer continues to recommend is Huntingdon Bancshares (HBAN: 5.84 0.00%). The stock jumped 6.6% on Friday after Cramer said the stock is “dynamite” and he prefers it over KeyCorp (KEY: 8.13 0.00%). Cramer recommends investors continue buying Huntingdon. 

Cramer all tried to reassure the market in the wake of the accounting scandal at Huron Consulting (HURN: 39.20 0.00%). While Huron has seen its stock price fall nearly 70% in the last few days and probably has completely destroyed its reputation, Cramer sees opportunity in some of the other accounting firms that have fallen along with Huron. Cramer recommended Duff & Phelps (DUF: 15.32 0.00%), but also likes FTI Consulting (FCN: 43.91 0.00%). The stocks reacted positively to Cramer’s bullish recommendation gaining 2.7% and 2.9% respectively. 

Citigroup managed only a 1.3% gain on Friday despite Cramer spending a great deal of time on his show outlining the merits of investing in Citigroup. While Cramer believes that investing in Citigroup is like investing in America, he also laid out five reasons for investors to be buying Citi’s shares: 

1. It is very cheap. Cramer believes the book value is about $4 per share and thinks the stock should sell at 1.5x book value for a $6 price target.

2. The governments 34% stake. The government can sell its 34% stake in Citigroup on September 10. The government has already made $5 billion on its position, and could have a $20 billion windfall from the sale.

3. Geographic positioning. Citigroup is the dominant bank in 108 countries. In spite of its domestic woes, Citigroup is still the leader in emerging markets.

4. Good bank vs. bad bank. Citigroup is spinning off its toxic loans by dividing itself into two companies. This will leave the main bank with three profitable businesses; retail banking, global services and investment banking.

5. Solid management. Cramer likes the current management team at Citi and believes the government would be crazy to replace CEOs Vikram Pandit and Ned Kelly.

Shares of Citigroup gained 6.2% after Cramer said the stock the stock was a buy. Cramer sees no reason why Citi’s stock can’t reach $4 per share. Cramer has been bearish on Citigroup in the past and even now seems to struggle with his newfound bullish stance. 

Cramer again recommended Smith Micro Software (SMSI: 2.19 0.00%) sending the stock up 2.8% on Thursday. Cramer really like the mobile internet sector and likes SMSI even though its trading nears its 52-week high. “I am a buyer on any weakness”, said Cramer. 

Other Cramer stock picks: 

First Energy (FE: 43.25 0.00%) gained 1.4% – “First Energy is a well-run company with a good yield.”

Tellabs (TLAB: 3.86 0.00%) jumped 1.6% – Cramer says to buy, buy, buy TLAB under $6 a share.