Stop Trading!

Friday, 11 May 2007 | 3:28 PM ET

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.

Stop Trading!
Mad Money host Jim Cramer discusses his stock picks for the day with CNBC's Erin Burnett

But Cramer is bearish on Cabelas , a sporting good retailer that specializes in guns and ammunition. He says it is getting hurt by high gas prices more than any other retailer in the nation. “People don’t drive 200 miles in their sports cars … to go buy gun cartridges,” he says.

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