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Sell Block for Thursday, March 22

To shake things up a bit this week, Cramer decided to start Sell Block with some mail. A viewer named Leo wanted to know if the inevitable exit of Blockbuster CEO John Antioco was a reason to dump the stock.

That’s a definite yes, Cramer said. Antioch is the guy who delivered on all his promises – even exceeded them – and doubled the stock price. So without him, the best course of action is probably to take profits. Carl Icahn, the activist shareholder who pushed Antioco out, has a history of making money for investors, but he didn’t deliver the double.

The next stock isn’t so much a full sell as a schnitzel. (That’s selling a bit at a time for all you new kids.) GSI Commerce is up 28% since Cramer recommended it in December, and he says now is the time to cash some of it in. There’s tons of coverage on the stock, including a recent look from Goldman Sachs, and this is a Christmas play anyway. Wait until December to get back in when the company’s growth initiatives should be firing on all cylinders.

The last sell for this week has to do with Motorolacutting its guidance today. A number of traders ran out and bought Nokia, thinking the revision had to do with dwindling market share to competitors. Cramer says what’s most likely happening is a sector-wide problem, and therefore Nokia is bound to suffer accordingly. Sell! Sell! Sell!

Bottom Line: Clear out of Blockbuster, take profits in GSIC and sell NOK.

Jim's charitable trust owns Goldman Sachs.

Questions? Comments? madmoney@cnbc.com

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