Cramer's "Sell Block"

Jim Cramer has a new SELL BLOCK this evening on MAD MONEY, and many of these are not sells at all. He also reviewed many recent IPOs -- some he says to sell and some he still likes.

Cramer said he feels like he got a little played by the CEO of Syntax-Brillian Corp (NASDAQ: BRLC) because the CEO said all great things, but right after Cramer brought him on the company announced a $15.5 million capital raise at a huge discount in a private placement. Cramer said he felt gamed and he is upset with the CEO for not disclosing this. Cramer doesn't trust the CEO now and he said it is taken off the positive crew.

Out of his 4% yield plays in AT&T (NYSE: T), Cramer says he likes Verizon Communications (NYSE: VZ) better now, but you don't have to sell all of AT&T. He says you can keep some but if you don't own either then he likes VZ better right now.

He would rather see you in Exxon Mobil Corp (NYSE: XOM) and out of his BP (NYSE: BP) call now since everyone wants to own XOM.

Cramer changed his tune on Vonage Holdings (NYSE: VG), well sort of. He said it is very interesting $3.00 lower than here, which is basically ZERO. VG actually popped a tad on this after-hours, even though it sounded a little sarcastic. I would expect to hear a clarification from Cramer on this tomorrow or next week since VG is such a controversial stock.

Movado (NYSE: MOV) is up 12% since his call, but he said to wait for a pullback. Now you got it and it is lower than his first recommendation since they warned; stock was down 17% today.

Here are his recent IPO Sell Block notes: As far as BigBand Networks (NASDAQ: BBND), Cramer still likes it. On SourceFire (NASDAQ: FIRE) he said they have run enough and you can sell. Aruba Networks (NASDAQ: ARUN) and Glu Mobile (NASDAQ: GLUU) he still doesn't like. Cramer likes Clearwire Corp (NASDAQ: CLWR) down here. He still is sticking with the "the underwriters sold to the wrong hands" story and thinks it is a good buy in here. On eTelecare Global Solutions (NASDAQ: ETEL) he said he still likes it but you can sell most of it and just leave the amount on that you have profits in since it is up so much.

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