Scale out of Apple (AAPL) Jim Cramer said on CNBC's "Stop Trading!" segment Monday.

Cramer told investors to sell as Apple CEO Steve Jobs discussed the next-generation iPhone at the Worldwide Developer Conference. The phone has faster data downloads and may outpace devices from Apple rivals Palm ( PALM) and Research In Motion ( RIMM).

Cramer called the news "marginally positive," saying, "You wanted to sell most of your position into this launch because of the hoopla." He said that he would have changed this strategy if the new phone had a camera that could simulate Apple's iChat software for its Mac computers. "I'm not changing my view," he said.

Cramer: Make a Bushel Off New iPhone

"I think Apple has been a great trade in a really bad market," Cramer said. However, "the odds do not favor another run on top of this."

As for RIM's prospects, Cramer said he doesn't want to sell the stock. "I still think that BlackBerry is a terrific name." He said he would be a buyer of RIM shares at around $120.

Cramer ended the segment by saying that debt downgrades in the homebuilders sector spell more pain for the space. He said that regional banks Washington Mutual ( WM) and National City ( NCC) also face similar difficulties. "When I see the homebuilders being downgraded, I know there's more pain ahead," he said.

At the time of publication, Cramer had no positions in any of the stocks mentioned.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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 Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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