Jim Cramer's Stop Trading! Don't Trust the Semis

Cramer would shy away despite upgrades.
Publish date:

Jim Cramer "doesn't trust" the semiconductor stocks despite two upgrades Friday, he said on CNBC's "Stop Trading!" segment.

Cramer said glut talk from big memory chipmaker


(MU) - Get Report

points up the futility of trying to buy tech out of season. Cramer said it's unwise to buy tech stocks till the latter end of the year, because of the way Wall Street works. Thus he said he's not surprised to see Micron down 3% and the SOX index of chip stocks down 1.2% even in the wake of upgrades from JPMorgan and Deutsche Bank.

Cramer said he could "make a case" for buying



, given how far the stock has fallen, and he owns


(MRVL) - Get Report

for his charitable trust. But he said those plays are strictly long-term holdings, based on how poor results have been and the seemingly low risk that they can get any worse.

Cramer doesn't like gas driller


(CHK) - Get Report

, saying it's "not my cup of tea" because management has "financed the heck out of it." Cramer said while Chesapeake goes from $29 to $29 to $29,

Marathon Oil

(MRO) - Get Report

is moving ahead.

Cramer also said the rally in


(AG) - Get Report

shows that the bull case on ethanol and agriculture can overcome even the most pathetic, quarter-missing fundamentals.

At the time of publication, Cramer was long Marvell.

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