Cramer Says Media Stocks Are Coming Out Of The Graves (TWX, NYT, NWSA, F, IP)

In his "Mad Money" TV show, Jim Cramer said that the sectors that were considered dead are showing signs of movement. With companies reporting impressive earnings for the latest quarter, investor sentiments are recovering, the bearish view on the stock markets seems to fall flat. Among those at the top of Cramer’s list are the media stocks, Time Warner (NYSE: TWX) and News Corp (NASDAQ: NWSA), which declared impressive figures for the latest quarter yesterday. He said that The New York Times (NYSE: NYT) is also moving out of the gloomy shadow.

Jim stressed that while bears were predicting huge commercial loan defaults this year, Nevada, Florida and California, where the housing sector was the most hit, were witnessing robust seeing impressive recoveries. According to him, the sector will be on its feet without any support from the government by the end of this year.

Jim also named the auto sector, which was seen as considered to be doomed in 2010 by the bears, in his list of bullish markets. He said that Ford Motor (NYSE: F) exemplified the improvement seen in the sector. Other sectors such as regional banks are also defying the gloomy predictions, despite travails in China. All these are making a strong case for a bull run.

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