Cramer: banking stocks all over the place

Posted Oct 19th 2006 3:46PM by Jon Ogg
Filed under: Analyst Reports, Citigroup Inc. (C), JPMorgan Chase (JPM)

What is Jim Cramer pushing in today's STOP TRADING segment? It's my favorite sector: big banks. Cramer said the earnings reports have shown some huge disparity. Washington Mutual, Inc. (NYSE:WM) was the ugly one and Wells Fargo & Company (NYSE:WFC) was the good one. Citigroup Inc. (NYSE:C) was also a bit off to him.

He said JPMorgan Chase & Co. (NYSE:JPM) was underrated and he would be a buyer right here.

Cramer also mentioned that NYSE Group, Inc. (NYSE:NYX) was getting a return of tens of millions of dollars in ill-gained bonuses from Grasso, and Cramer said New York Attorney General Eliot Spitzer won't drop this one. Cramer said Grasso didn't create his own package.

Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.

Tags: bank, banking, c, citi, cramer, jim cramer, JimCramer, jpm, nyse, nyx, stop trading, StopTrading, wells fargo, WellsFargo, wfc, wm