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
." 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
are "technically insolvent."
Moving on to technology stocks, Cramer advised looking at
because it "took out its low."
Cramer said there is "not a lot of great news in tech," and
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
. He said that the company recently boosted its dividend and that competitor
"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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