Bank stocks still need to prove themselves despite the bounce in today's market, says TheStreet's Jim Cramer. He said banks benefit from a weak dollar and higher oil prices. J.P. Morgan (JPM) - Get Report can be a long term winner when viewed through that prism, but the market's current focus on net interest margin is holding the shares back. He said Citigroup (C) - Get Report is more attractive than J.P. Morgan on the basis of book value. Cramer said the sector is so hated that if the banks can sustain this rally then any group can.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.