GO
Loading...

Stop Trading!: A Deep Dow Decline?

Take profits while you can, Cramer told viewers during Wednesday’s Stop Trading!, because this market might be ready to snap back from yesterday’s rally.

“I really think we’re in an incredibly overbought moment here where I am concerned,” Cramer said. “The last time we were this overbought we caught a 1,500-point decline in the Dow. That’s worrisome to me. I want people...to ring the register on the hot stocks.”

Cramer specifically mentioned Citigroup and Washington Mutual as stocks to schnitzel (Mad Money parlance for selling part of a position). The share price of both companies’ rose Tuesday on a rally led by Lehman Brothers $4 billion stock offering.

As for stocks that are working right now, Cramer recommended the gold sector and oil driller Nabors , which is “very, very right.”

Alcatel-Lucent CEO Patricia Russo, a member of Cramer’s CEO Hall of Shame, appeared earlier on “Street Signs,” but she stills not getting any love from Cramer.

“The company is nothing,” he said, citing problems with ALU’s technology.

“Sony Ericsson is equally challenged,” Cramer continued. “The only [stock] that I would have to buy in this group, if you put a gun to my head, is Nokia .”

Don't miss Cramer's interview with Democratic presidential hopeful Sen. Hillary Clinton Wednesday night at 6 & 11PM ET on Mad Money.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

Contact Mad Money

  • Showtimes

    U.S.
    Monday - Friday 6p ET
    Australia
    Saturday 8a, 1p, 7p SYD
    Sunday 12a, 1a, 8a, 7p SYD
    New Zealand
    Saturday 10a, 3p, 9p NZ
    Sunday 2a, 3a, 10a, 9p NZ
  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.

Mad Money Moments

Cramer's New Book