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"Stay in the game," Jim Cramer's advised viewers of his "Mad Money" TV show Friday, as he reflected on the incredible market move over the last few weeks.
Cramer said over the last eight to nine weeks since the market bottomed in March, people have made fortunes investing in bank, oil and technology stocks. "And it's not done yet," he said.
Cramer told viewers to question the motives of the nay-sayers and pundits on TV, as they are either shorting the market or in desperate need of lower prices so they can buy even more.
Case in point,
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS. After a secondary offering of stock today, Wells' shares should've gotten murdered, he said. Yet instead, Wells Fargo traded up $6, and only stopped because the closing bell rang.
Cramer said moves like these only come twice in a lifetime. Why twice? Because it happened back in the 1980's, after the huge savings and loan crisis of that era. Then, as now, banks were priced for nationalization. But now that they're recovering, institutional investors can't get enough of them.
Cramer told viewers to remember days, weeks and months like these the next time the market is down big. Staying in the game, he said, is the only way to make money in the markets.
A Bright Star
In the last of his "Tech Spec" series, Cramer recommended
, which hit a 52-week high this week.
Starent, which manufactures hardware and software to mange content on wireless data networks, commands a 75% to 80% marketshare in the CDMA technology used by both
The company is also moving into China, which will prove to be a humongous opportunity.
Starent just reported a monster earnings beat of 22 cents a share versus estimates for just 16 cents a share, he said. The stock may seem expensive trading at 26 times earnings, but he said given Starent's 30% growth rate, the company is exceedingly inexpensive.
Cramer recommended using the market pullback today to put an equal amount into all five of his "Tech Spec" names mentioned this week. While one is bound to be a loser, at least one will surprise you, he said.
When all the euphoria over banking stress tests is over, where's the smartest place to put your money?
Cramer said it's in solvent, smaller banks that are poised to gobble up the bad banks and become huge powerhouses.
Such is the case with
People's United Financial
, a small New England back that has an incredible 19.5% capitalization rate, more than three times the national average. The bank also has a bad loan ratio of just .25%, compared to an average of 1.7%.
Cramer said People's United reminds him of Fleet Financial back in the 1980's, after the savings and loan crisis. Fleet, he said, was later acquired by
Bank Of America
, but not before delivering a 500% return to its shareholders after it was allowed to merge with failed banks in its region.
With People's United flush with cash, it should only be a matter of time before this little bank becomes a big one, said Cramer.
Outrage of the Day
Cramer took aim at the system that keeps good people out of government office. "We lost a good man today, said Cramer, referring to the resignation of New York Federal Reserve Chairman Stephen Friedman, former head of
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS.
According to reports, Friedman resigned his position over a purchase of Goldman stock early this year that is now being regarded as questionable. "This is nonsense," said Cramer, who noted that the trade was not only perfectly legal and fully disclosed, but also a much needed vote of confidence for Goldman during some of its darkest hours.
"Today we saw why it's not worth it to serve your country," he said. There's a culture of giving back at Goldman, he said, and Friedman was a great example of that culture. But today, he was essentially run out of office for doing nothing wrong.
Cramer was bullish on
Fuel Systems Solutions
He was bearish on
Interpublic Group of Companies
ingli Green Energy
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At the time of publication, Cramer was long Goldman Sachs, Qualcomm, Wells Fargo.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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