Jim Cramer's Stop Trading! 4/2/08: Russo, the Wall of Shame ALUmna

Recap of Jim Cramer’s comments on Stop Trading! Wednesday April 2. Click on a stock ticker for more analysis.

Citigroup (C), Washington Mutual (WM): Cramer would take profits in hot stocks, because he thinks there will be decline from Wednesday’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.” He would be particularly careful to take profits in C and WM.

Nabors (NBR): Cramer says oil driller NBR is “very very right” in the current environment and also likes gold.

Alcatel-Lucent (ALU), Nokia (NOK): Cramer still thinks CEO Patricia Russo has been rightfully placed on his Wall of Shame and cites problems with the company’s technology. He says Sony suffers from similar problems and commented, “The only [stock] that I would have to buy in this group, if you put a gun to my head, is Nokia.”

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