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Selling Some Winners

Cramer's taking some off the table, thinking he can find better opportunities elsewhere.
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Dear Action Alerts PLUS Subscriber,

I am taking some Commerce Bancorp (CBH) off the table this morning. The bank stocks haven't seen as much traction as I thought they would, despite the 50-point rate cut. The market sentiment just seems too optimistic right now, and I want to sell some of my winners.

And as much as I really like Commerce, it's no bargain compared to the other regional banks. Had been thinking the stock could make it back to $50 in the near term, but think we can find some places with better near-term potential.

After you read this note, I am going to sell 500 of Commerce Bancorp, leaving me with 1,000 shares.

I also want to sell 500 shares of Verizon (VZ) , which at $39 is overdue for a pullback.

Regards,

James J. Cramer

DISCLOSURE: At the time of publication, Cramer was long VZ and CBH.

James J. Cramer is a Markets Commentator for TheStreet.com and CNBC, and a director and co-founder of TheStreet.com. TheStreet.com is a publisher and has registered as an investment adviser with the U.S. Securities and Exchange Commission. We are not a registered broker-dealer.

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