Stop Trading!: Buy the Banks
Cramer had some investment suggestions for traders who think Washington Mutual's climbing share price, even after Friday's "totally horrendous quarter," is a sign of a bottom.
Anyone who believes the jobs market and U.S. economy have levered off should consider FirstFed and Downey Financial , Cramer said, adding the FED could double. PFF Bancorp PFB is also worth a look.
Baring PFB, "These guys are not good lenders," Cramer said. But they are the kind to get bought out by larger, better-run banks like Wells Fargo .
Lundin Mining has dramatically increased its drilling, giving Cramer reason to think it could get snatched up by Companhia Vale do Rio Doce or BHP Billiton.
"This is what a lot of the companies looked like before they got gobbled up by the majors," he said.
Cramer also upped his price target on Google to coincide with Bear Stearns' call: $700.
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