Cramer's Stop Trading! JP Morgan's Secondary a Bit Too Expensive (6/2/09)

by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV segment Tuesday June 2.

JP Morgan (NYSE:JPM), Huntington Bancshares (NASDAQ:HBAN), Fifth Third Bancorp (NASDAQ:FITB), Key Corp (NYSE:KEY), Strayer Education (NASDAQ:STRA), Bridgepoint (NYSE:BPI), Genzyme (GENZ), Celgene (NASDAQ:CELG), Gilead Sciences (NASDAQ:GILD)

Cramer said JP Morgan's secondary offering was a tad too rich at $35; if it were just a dollar lower at $34, "We would be seeing a major bank rally." He thinks Huntington Bancshares is a good speculative stock and is better than Fifth Third or Key Corp.

While Strayer is the star education stock, Bridgepoint is the neglected name in the sector, said Cramer, and it has the advantage of being below the government's radar.

Since biotechs like Genzyme, Celgene and Gilead have been "hammered mercilessly" Cramer expects a few days of upside before investors go back into iron and steel stocks.


Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round and his Stop Trading! Picks.

Get Cramer's Picks by email-- it's free and takes only a few seconds to sign up.

Seeking Alpha is not affiliated with Jim Cramer, CNBC or

About this article:

Want to share your opinion on this article? Add a comment.
Disagree with this article? .
To report a factual error in this article, click here