Web Editor, "Mad Money"
Bank of America made it harder to short the stock now that it raised its dividend to 5.5%, Cramer said.
He recommends going long on Bank of America while shorting JPMorgan Chase. Cover JPM at $38, he said. It’s at $44.85 now.
Investors could follow the same strategy with Citigroup, which also has a decent yield. Lehman Brothers, Merrill Lynch and Bear Stearns could all be potential shorts for this play.
“When you go against these companies, please do it into strength,” Cramer said, adding that the numbers have to come down for the brokers.
Also, Cramer would steer clear of clinical-trial stocks. They’re too risky and inconsistent, he said. At least one company that farms its trials out is a winner, though.
“Merck is on fire,” Cramer said. “I’d stick with Merck.”
Jim's charitable trust owns Citigroup.
Questions for Cramer? email@example.com
Questions, comments, suggestions for the Mad Money website? firstname.lastname@example.org