Amid the storm of volatility washing over the markets, TheStreet's Jim Cramer sees opportunities in solid dividend stocks like General Electric (GE - Get Report) and Verizon Communications (VZ - Get Report). "GE's dividend yields 4%, Verizon's yields 5% -- I like these stocks on the way down,' Cramer said. "I also like Procter & Gamble (PG - Get Report) on the way down -- it has a 4% yield." Shares of GE have fallen 17.7% since hitting their high on April 10. Verizon is off 11.6% since it topped out on April 28. Procter & Gamble shares have declined 24% from their Jan. 22 high. All three stocks tumbled to new 2015 lows on Tuesday.
Cramer said investors should be using the strong stock market openings seen in recent sessions, where the Dow Jones Industrial Average opened with a triple-digit gain, to exit positions in stocks that don't work, such as many in the minerals and mining sector. "When the market comes back down, you get into these accidental high yielders," Cramer said. "If you buy these stocks that yield 4%, the best thing that happens is they might yield 5% when you buy more." Cramer stressed the importance of dividend stocks in this volatile market. "It worked in 2008, and it will work now."
Source: The Street
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