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

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Includes: BPI, CELG, FITB, GILD, HBAN, JPM, KEY, SNY, STRA
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.

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