Apple Hype Priced In - Stop Trading! (6/9/08)

 |  Includes: AAPL, BBRY, NCC, WMIH
by: Miriam Metzinger

Recap of Jim Cramer’s comments on Stop Trading! Monday June 9.

Apple (NASDAQ:AAPL), Research in Motion (RIMM): While Apple might be generating enthusiasm over the release of its new iPhone; most of the excitement is already priced in.“Apple’s been a great trade in a really bad market,” Cramer said. But he added, “we’ve had a very big run. Let’s be sensitive to that.” He recommended selling three-quarters of a position in the company by the end of Monday. Cramer would buy more Research in Motion if it falls below $120.
National City (NCC), Washington Mutual (NYSE:WM): Cramer says housing woes are not over and he doesn’t see a bottom until 2009. In the meantime, banks like NCC and WM will continue to be hurt by falling bond ratings.

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