Jim Cramer Blog

Trish Regan hosted. Tech stocks are down today. Microsoft was down 2%. Fannie May down 8%. Treasury notes gain, dollar sinks on weak consumer sentiment. Intel was down 2%. Nasdaq down 6% over 3 days, the biggest loss since 2002. Google was down over 3%. Wachovia says they are looking at a $1.1B write-down. Paul Krugman, author of conscience of a liberal, reports on the current credit crunch. He estimates the tight credit situation shall last a long time. Marc Weinberger of W. Quillen Securities says the sooner credit companies and the financial sector as a whole shakes the growing debt dilemma, the more comfortable the consumers and investors will become. Next up was the weak dollar. Rick Santelli says despite the inflation in the U.S, the weakening of the dollar is a good thing. Paul Krugman adds that the trade deficit will fix itself when fundamentals are re-examined. Apple was down 2.5%. Next, the writers guild of America is on strike for day 5. Hollywood production has stopped "How I met your mother," and a rally of 4,000 is expected outside of FOX today. A holiday retail forecast was presented by MaragretBrennan oc CNBC. She says that major retailers like Wal-Mart pay meteorologists to inform them of weather changes, so they can change their shelf products accordingly. Consumer buy on impulse and weather has an impact on consuming. Bon-Ton, Aeropostale, Abercrombie % Fitch, American Eagle and Limited Brands are estimated to be prepared for the weather changes, as well as being the top picks for investors around the season change, according to analytics, also that major retailers like Wal-Mart and Meijers will not be as prepared to serve the consumers.

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