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

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

Fannie and Freddie are 'technically insolvent,' says Cramer. And bank of America is headed lower.
Publish date:

Steer clear of financial stocks right now, Jim Cramer told viewers of


"Stop Trading!" segment Wednesday.

Cramer said he is "consistently concerned about BAC

Bank of America

(BAC) - Get Report

." 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



Fannie Mae


are "technically insolvent."

Moving on to technology stocks, Cramer advised looking at

Cisco Systems

(CSCO) - Get Report

because it "took out its low."

Cramer said there is "not a lot of great news in tech," and


(ORCL) - Get Report

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) - Get Report

. He said that the company recently boosted its dividend and that competitor


(RAD) - Get Report

"was horrible." Wrapping up the segment, Cramer said that "as Rite-Aid breaks down, CVS is the winner."

At the time of publication, Cramer had no positions in stocks mentioned.

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