Jim Cramer's Stop Trading Oct. 23th
Sell Coach (COH), Jim Cramer said Tuesday on CNBC's Stop Trading! segment.
Cramer said he was wrong with a call last quarter to buy the accessories retailer in the low $40s. That fact came to light Tuesday morning, when Coach issued cautious year-end guidance, sending its shares plunging 13% in furious trading, to $36 and change.
Cramer doesn't like the mortgage insurers either. He'd be selling PMI (PMI) and MGIC (MTG) off yesterday's Lehman Bros. downgrade of the sector.
"They sliced through book value," Cramer said of the mortgage insurance stocks, which were each off 11% in heavy trading Tuesday after similar declines Friday.
Cramer said he was wrong with a call last quarter to buy the accessories retailer in the low $40s. That fact came to light Tuesday morning, when Coach issued cautious year-end guidance, sending its shares plunging 13% in furious trading, to $36 and change.
Cramer doesn't like the mortgage insurers either. He'd be selling PMI (PMI) and MGIC (MTG) off yesterday's Lehman Bros. downgrade of the sector.
"They sliced through book value," Cramer said of the mortgage insurance stocks, which were each off 11% in heavy trading Tuesday after similar declines Friday.
Labels: CNBC's Stop Trading, COH, Jim Cramer, MTG, PMI
posted by Stock Administrator @ 9:55 AM
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