Jim Cramer's Stop Trading Oct. 8th
There's not much to like at Sovereign Bancorp (SOV), Jim Cramer said on CNBC's "Stop Trading!" Monday.
"It's one of the few that I can't get behind here," he said. "I can't think of a reason to own that one." Sovereign was falling on Monday after an analyst at Friedman Billings cut his estimates on it because of concerns about its consumer-loan exposure. The company also has an owner who "won't let anyone else in," said Cramer.
Google, meanwhile, is poised to go higher, said Cramer, who reiterated his belief the stock will go to $701. "Why a 30 multiple when it's got 33% growth?" he asked. Google crested $600 in trading Monday.
Garmin (GRMN) should also be moving higher, Cramer said. Garmin was upgraded by Am Tech/JSA Research Monday. "It's going to be a "Garmin Christmas," he said. "Own this thing to Christmas, but then you have to sell it."
Published By TheStreet.com
"It's one of the few that I can't get behind here," he said. "I can't think of a reason to own that one." Sovereign was falling on Monday after an analyst at Friedman Billings cut his estimates on it because of concerns about its consumer-loan exposure. The company also has an owner who "won't let anyone else in," said Cramer.
Google, meanwhile, is poised to go higher, said Cramer, who reiterated his belief the stock will go to $701. "Why a 30 multiple when it's got 33% growth?" he asked. Google crested $600 in trading Monday.
Garmin (GRMN) should also be moving higher, Cramer said. Garmin was upgraded by Am Tech/JSA Research Monday. "It's going to be a "Garmin Christmas," he said. "Own this thing to Christmas, but then you have to sell it."
Published By TheStreet.com
Labels: CNBC's Stop Trading, Garmin, GOOG, Google Inc., GRMN, Jim Cramer, Jim Cramer's Stop Trading, SOV, Stop Trading
posted by Stock Administrator @ 7:37 AM
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