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Cramer Quick Take: How to Speculate the Right Way

Tickers in this article: BBY HPQ NOK RS S SVU
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NEW YORK (TheStreet) -- There's a price at which even the most hated stocks become attractive, Jim Cramer told Lindsey Bell at Thursday. And that's the price at which investors should speculate, he continued, as we've seen with several recommendations.

Cramer said he was bearish on both Nokia (NOK) and Sprint Nextel (S) as those stocks sunk lower, but as they hit $2 a share he began to recommend them as a speculation and both investments have paid off.

Cramer said he missed telling investors to buy into SuperValu (SVU) , but that's another example of a stock that got too cheap to ignore.

That's why Cramer said he's no longer going to discourage investors who'd like to roll the dice on Hewlett-Packard (HPQ) or Radio Shack (RSH) or Best Buy (BBY) . Cramer said he still thinks these stocks could head lower, but at these bargain basement prices it's too late to sell them.

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-- Written by Scott Rutt in Washington.

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