Buy Research In Motion (RIMM) , Jim Cramer said on CNBC's "Stop Trading!" segment Monday.
When financial companies rally, Cramer said, it's a signal of demand for technology products. "I think the shorts are on the run," he said. "We're in the seventh inning of the firings," Cramer said, referring to layoffs at many financial firms.
Cramer praised Bob Steel, undersecretary for domestic finance at the Treasury, for his involvement in government attempts to ease the credit crisis. "Once Bob Steel got involved, it was game over for the bears," he said.
On billionaire investor Carl Icahn, Cramer said, "I thought he backed down on
." Icahn, who owns a substantial stake in
, is suing the company for mishandling its cell phone business. Cramer said, "I think that the handset market is the issue, not just
. ... Motorola doesn't have a smart phone. It's a dumb-phone company."
On the other hand, Cramer said Icahn has had "a real good hand" in biotech. "I would bet with him on
Cramer said investors should ignore talk of a rally in a bear market. "People were talking about a rally in a bear market in 1991." That rally, he said, lasted until 1997.
At the time of publication, Cramer had no position in any of the 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. 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
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.