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Jim Cramer's Stop Trading! Hating Hoku

TheStreet.com Staff

It's time to "blow out" of speculative stocks like Hoku (HOKU Quote) in the runup to President Bush's speech tonight, Jim Cramer said Tuesday on CNBC's "Stop Trading!" segment.

Cramer said Hoku, the Hawaii-based supplier of material for solar panels that has come into vogue since it scored a supply deal last week with Sanyo, is "trading more than its float" every day -- a signal that the action may not be based purely on the stock's fundamentals. On Tuesday, shares were up 11% in heavy trading as some investors were betting that the president's energy conservation proposals would play to Hoku's favor.

"People are trying to game a speech that isn't gameable," Cramer said of the president's State of the Union address, which is scheduled for 9 p.m. EST.

Cramer also called the ethanol trade "baloney" but said that if he really believed in renewable power talk, he might try Archer Daniels (ADM Quote).