Bank stocks may look cheap, Cramer said Tuesday, but that doesn’t mean home gamers should buy them.
In fact, Cramer believes banks look like value traps, a stock that is mistaken for a value name but in reality, it’s a company that is in decline.
“As long has unemployment and housing are both lousy, as long as regulator after regulator keep going after them, these are not stocks you want to own,” the “Mad Money” host said.
To further explain why he believes bank stocks are trending lower, Cramer went “Off the Charts” with the help of John Roque, a highly regarded technician on Wall Street. To see his full report, watch the video.
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