On Thursday's "Mad Money" show, Jim Cramer said that Thursday's down day was just a breather. It's still a bull market, he said, and banks are still a buy, including Goldman Sachs (GS) - Get Report, which he owns for his Action Alerts PLUS charitable trust.
On Friday, Goldman closed up 4.4%, or $5.86, at $139.59.
He also recommended buying the secondary offerings from
and Action Alerts PLUS name
Morgan closed up 3.9%, or $1.06, to $28.20 on Friday, while Wells Fargo added 13.8%, or $3.42, to $28.18.
Cramer said it's time to get out of
, which has gone up 86% since he recommended it in March, and into another bank, such as
( SBIB) or
International Bancshares gained 92 cents, or 6.7%, to $14.60; Texas Capital added $1.30, or 9.2%, to $15.50, Sterling Bancshares added 56 cents, or 7.9%, to $7.69; and Huntington Bancshares was up $1.31, or 33.7%, to $5.20.
Cramer's fourth "Tech Spec" stock of the week was
, which supplies power management components for electronic devices. He said that since the company reported on a down day, it went under the wire, but that the company is getting rid of debt and strengthening its balance sheet. He said that Friday, May 8, would a great time to get into the stock.
On Friday, On Semiconductor lost 10 cents, or 1.8%, to close at $5.61.
At the time of publication, Cramer was long Goldman Sachs and Wells Fargo.
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