Jim Cramer's Wall Street Confidential Mar. 7
Wachovia (NYSE: WB - News), Washington Mutual (NYSE: WM - News), Prudential (NYSE: PRU - News), MetLife (NYSE: MET - News), AIG (NYSE: AIG - News) and Allstate (NYSE: ALL - News)
Cramer warns the shorts are going to make a comeback attack on financials and claim Tuesday's rally was merely a short squeeze. "That's the way to play it," said Cramer, who predicts the shorts may claim that WB will have to spend its dividend or WM is in "big trouble." However, Cramer likes insurance companies PRU and MET, but is a "little more concerned" about ALL because of sluggish growth. Although AIG had a "blowout quarter," he adds $70 is where former CEO Hank Greenberg "lives to sell the stock." Cramer would stay away from regional banks because of mortgage issues; "I could rumor down any of the regional banks right now," Cramer continued. They are easy to take down."
Cramer warns the shorts are going to make a comeback attack on financials and claim Tuesday's rally was merely a short squeeze. "That's the way to play it," said Cramer, who predicts the shorts may claim that WB will have to spend its dividend or WM is in "big trouble." However, Cramer likes insurance companies PRU and MET, but is a "little more concerned" about ALL because of sluggish growth. Although AIG had a "blowout quarter," he adds $70 is where former CEO Hank Greenberg "lives to sell the stock." Cramer would stay away from regional banks because of mortgage issues; "I could rumor down any of the regional banks right now," Cramer continued. They are easy to take down."
Labels: AIG, ALL, Jim Cramer, MET, PRU, Wall Street Confidential, WB, WM
posted by Stock Administrator @ 12:31 PM
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