Cramer’s been recommending the refiners for a while, but he’s shifting position today. He’s had enough of Valero , for one. The margins have peaked with summer driving season right around the bend, and you can’t own these stocks with their margins peaking, he says. Cramer’s also changing his outlook on Chevron – a stock he’s been behind when everyone else hated it. It had a good run, but Cramer thinks it’s over for now.
JMP Group , which made its stock market debut today, is a great niche investment bank without too much risk, Cramer says. These banks get priced low and then come out and blow away the numbers. “They’re sleepers and you want them,” he says.