Buy These Banks

Cramer is bullish on the banks, he said during Friday’s Stop Trading!, at least those with mortgages, as it looks like housing is finally bottoming.

Some banks will be holding equity offerings to raise the capital amounts required by the Treasury Department’s stress-test results. Cramer urged investors, especially big money managers, to get in on these stock sales, especially that of Wells Fargo .

“This is your chance,” he said. “Just buy it, buy it, and then buy it some more.”

Even the troubled Bank of America is a buy when it holds its own offering, Cramer continued, “if you believe like I do that housing’s going to bottom.”

Cramer said he likes Morgan Stanley “even more,” but would pass on Citigroup because the company doesn’t have enough mortgage exposure.

The Mad Money host sees a similar upturn happening in insurance companies such as MetLife , Prudential and others, which he said is key to an economic recovery.

If the systemic risk in the banks and insurers is removed, Cramer said, “we can go higher.”

Cramer's charitable trust owns Morgan Stanley and Wells Fargo.

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