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

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.

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

Get Cramer's Picks by e-mail -- 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