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Sell Block: Hang Up on These Wireless Stocks

Thursday, 29 May 2008 | 7:44 PM ET

Overseas stocks get special treatment on Mad Money the way Barack Obama does on MSNBC. (At least that’s what some people are saying about our sister network.) International names send a thrill up Cramer’s leg.

But not all his theses have been working. His favorite developing-world wireless names are down a collective 12% since he starting making his calls back on Feb. 25. Apparently, consumers in these countries are picking food over cell phones if given the choice. What can you expect in the middle of a world famine?

Mad Money Sell Block
Mad Money's Jim Cramer tells you which stocks you ought to be selling right now, either to take profits or to cut your losses.

Mobile Telesystems and Vimpel Communications in Russia, Millicom International in Africa, Asia and Central America, Telkom Indonesia and Turkcell for Turkey and Ukraine all have watched competition nibble away at their market share. What Cramer thought was a near endless supply of as yet unconnected customers turned out to be zero sum game. The ensuing price wars with smaller firms left these giants wounded.

Two in particular, though, took a real shellacking: Telkom Indonesia and Turkcell. Overeager regulators added to the problems caused by competition and knocked these stocks down about 31% each.

Since there’s no good spin to put on the situation, Cramer recommended investors dump Telkom and Turkcell immediately. The rest – MBT, VIP, MICC – should be sold on any strength.

Questions for Cramer? madmoney@cnbc.com

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

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