Jim Cramer's 'Stop Trading!': Avoid Financials

Steer clear of financial stocks right now, Jim Cramer told viewers of CNBC's "Stop Trading!" segment Wednesday.

Cramer said he is "consistently concerned about BAC [Bank of America(BAC Quote)]." He predicts it will continue to go lower, and he is "very concerned about this situation."

Continuing on negative news in the financials, Cramer said to "stay away" from the financials. He said that Freddie Mac (FRE Quote) and Fannie Mae (FNM Quote) are "technically insolvent."

Moving on to technology stocks, Cramer advised looking at Cisco Systems (CSCO Quote) because it "took out its low."

Cramer said there is "not a lot of great news in tech," and Oracle (ORCL Quote) has been in a house of pain since reporting its latest quarter. He said that "bottom-fishers in tech are making a big mistake."

Moving on to retail, Cramer said that he liked CVS Caremark (CVS Quote). He said that the company recently boosted its dividend and that competitor Rite-Aid (RAD Quote) "was horrible." Wrapping up the segment, Cramer said that "as Rite-Aid breaks down, CVS is the winner."