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When people look at the market, they think of technology, Cramer told listeners of his

"RealMoney" radio show Friday.

But technology stocks are news-driven stocks, he said. He urged his listeners to sell technology before the summer as nothing new comes out in the summer.

"The semiconductor industry is the single worst place to be right now," he said. "Every summer I have been in this business the technology industry has been down, so why should it be any different now?"

PC sales are down and inventory in this sector is piling up, Cramer said. The only stock Cramer said he likes right now in the sector is

Apple Computer

(AAPL) - Get Apple Inc. Report


Otherwise, Cramer advised listeners to sell technology stocks every time there is a rally in the sector.


Right now the oil, mining and infrastructure industries make sense to me," he said. "Wait until August to buy technology."

In the midst of all the

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Federal Reserve

tightening, banks have been doing well, Cramer said. This tells us the Fed might be finished raising rates.

"I believe that the bank sector is doing well is a good sign," Cramer said. "They've been great predictors of what's to come."

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

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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