Skip to main content

The selloff in Ameritrade (AMTD) - Get TD Ameritrade Holding Corporation Report and its peers has been overdone, Jim Cramer said Monday on CNBC's Stop Trading! segment.

Cramer called

Bank of America's

(BAC) - Get Bank of America Corp Report

decision earlier this month to offer free equity trading to big depositors "clever," but he said BofA "isn't going to take clients" from Ameritrade and rivals

E*Trade

(ET) - Get Energy Transfer, L.P. Report

and

Schwab

(SCHW) - Get Charles Schwab Corporation Report

.

That's because "retail is back," Cramer said, referring to the retail investor's rising interest in the market in the wake of new highs in the Dow Jones Industrial Average. Plus, he added, "Ameritrade is making so much money."

He said Ameritrade CEO Joe Moglia has "a good story to tell" and that the stock could get back to $19, where it traded two weeks ago before the Bank of America news came out, from a recent $16.62.

Cramer also likes

Wrigley

( WWY), which soared 15% Monday after it hired former

TheStreet Recommends

Nike

(NKE) - Get NIKE, Inc. Class B Report

chief Bill Perez as CEO. Perez is widely admired, Cramer said, and left the shoe giant largely because of a personality clash with Nike guru Phil Knight.

"It's too bad he didn't last at Nike," Cramer said of Perez. But "he'll slash and burn at Wrigley without affecting the top line." Cramer said he expects the stock to pull back a dollar or so before running up to $60 from a recent $53.42.

Cramer also said Monday's renewed gains across the market show that while "the rigor is lacking, the money isn't." He said big gainers in recent days have included stumbling

Wal-Mart

(WMT) - Get Walmart Inc. Report

and slow-growing

Coke

(KO) - Get Coca-Cola Company Report

, in spite of the companies' failure to show they've gotten their houses in order. "That's why this market is going higher," he said.

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

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. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest 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.