This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jim Cramer's 'Stop Trading': Sell Ciena, Buy Nokia

Sell Ciena (CIEN - Get Report), the telecom networking company, and instead consider Nokia (NOK - Get Report), Jim Cramer said on CNBC's "Stop Trading!" segment Friday.

"Spending on technology is declining rather dramatically this quarter," Cramer said. "And in this environment a tech stock can't have a big run."

Cramer said he likes Gary Smith, CEO and president of Ciena, but he said this is not a good month for tech spending and that could affect Ciena. "Sell it now and buy it back on Monday or Tuesday," he said.

With Ciena off the table, Cramer said he likes handset manufacturer Nokia. "Ciena's off and it is a great opportunity to buy something else," Cramer said.

On Fannie Mae (FNM) and Freddie Mac (FRE), Cramer called for U.S. Treasury Secretary Henry Paulson to reassure investors by saying that the guarantee behind the agency paper is more than implicit.

"They are saying nothing, which is just making people frightened and scared," Cramer. "They are really quiet and that is just killing people."

Cramer also said that Paulson has not offered any "creative solutions."

"We talk about Brazil and even Mexican paper being better all the time," said Cramer. "And what has Paulson said? All he says is I am a seasoned player."

"It's time to get serious," said Cramer.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CIEN $21.46 0.00%
NOK $7.62 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs