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Jim Cramer's 'Stop Trading!': RIM Rally's Real

"I think we've presumed all of a sudden that Obama's the best friend of State Street (STT - Get Report) and Fifth Third (FITB - Get Report)," said Jim Cramer on Wednesday's Street Signs TV show on CNBC. "Where has that idea ever come from politically?"

He said that Morgan Stanley (MS - Get Report) is "the premier brokerage in the world." Shares of Morgan and Goldman Sachs (GS - Get Report) are the two largest positions in his Action Alerts PLUS charitable trust. "We cannot view them in the same light as the rest of the banks," he said. "Morgan Stanley could double from here."

Wells Fargo (WFC - Get Report), which had a "monster good quarter," is his largest bank position in Action Alerts PLUS.

As for tech, Cramer highlighted Research In Motion (RIMM) and Apple (AAPL - Get Report), whose iPhone he called "gigantic." "We're not supposed to getting this sort of rally in tech," he said. "This tech rally has the capability of leading us somewhere. I like the action in Apple and RIM. I think it's real."

At the time of publication, Cramer was long Goldman Sachs, Morgan Stanley and Wells Fargo.

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.

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SYM TRADE IT LAST %CHG
AAPL $125.01 -0.63%
FITB $20.11 -1.18%
GS $196.25 -0.53%
MS $37.05 -1.07%
STT $78.01 -0.94%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

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