Cramer Shares His Thoughts On Southwest Airlines Co, ConocoPhillips And The Railroad Stocks

On CNBC's Mad Money, Jim Cramer said that he is getting very close to buying Southwest Airlines Co LUV as the stock is trading lower. The chart looks bad, but the stock is cheap and the management is great, added Cramer. He is concerned that ConocoPhillips COP might cut its dividend and he wouldn't buy the stock. Cramer thinks that the railroad stocks finally represent a decent value. He wouldn't rush in at once. Instead, he wants to buy slowly on the way down. He would start buying when they reach a dividend yield of 3.5 percent. In the space, he likes CSX Corporation CSX, Norfolk Southern Corp. NSC and Union Pacific Corporation UNP.