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

Cramer would shy away despite upgrades.

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 Micron Technology, Inc. (MU) 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 Marvell Technology Group Ltd. 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 Chesapeake Energy Corporation 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,

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Marathon Oil

(MRO) - Get Marathon Oil Corporation (MRO) Report

is moving ahead.

Cramer also said the rally in


(AG) - Get First Majestic Silver Corp. 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.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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

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