Jim Cramer's Mad Dash: 'Buy the Banks'

NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, took a look at the affect that June's nonfarm payrolls results would have on stocks. 

Specifically, Cramer is looking towards the financial sector, which is moving higher along with Treasury rates. 

When rates increase, the banks become more profitable, he reasoned. Cramer says regional banks should do very well as rates increase. 

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Overall, the financial sector could rally into earnings, which start next Friday with Wells Fargo (WFC). "Don't outthink it -- buy the banks," he said. 

Cramer likes Bank of America (BAC) going forward, saying, "If there's no screwup, this is best in show."

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had a position in BAC.

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