Jim Cramer's Stop Trading 9/24
The administration has to present this as: If you vote against this, you want to kick people out of their homes, Jim Cramer said on Wednesday's Stop Trading segment on CNBC, referring to the government's proposed bailout plan.
Cramer offered his opinion on four financial stocks. AIG (AIG), he said, is a total loser. I think AIG would be down substantially if not for the reason you can't short.
He called Freddie Mac(FRE ) and Fannie Mae(FNM) interesting. Since you can't short them and since both companies - and particularly Fannie Mae - have portfolios that would benefit greatly from the government's plan, Cramer said, he can understand why some might see a rational for owning them and flipping them. But, he said, I don't want to buy any dollar stock.
People see potential for Washington Mutual(WM), too, he said. There's a lot of people who feel like the moment the plan gets in, there's going to be a premium bid for Washington Mutual. I think that's just ridiculous.
Moving away from financials, Cramer said that if the rules against offshore drilling are done away with and we actually open up our shores, Schlumberger's(SLB) a big win, not just Transocean(RIG). Transocean is the leader, he said, and Schlumberger will follow.
Published By TheStreet.com
Cramer offered his opinion on four financial stocks. AIG (AIG), he said, is a total loser. I think AIG would be down substantially if not for the reason you can't short.
He called Freddie Mac(FRE ) and Fannie Mae(FNM) interesting. Since you can't short them and since both companies - and particularly Fannie Mae - have portfolios that would benefit greatly from the government's plan, Cramer said, he can understand why some might see a rational for owning them and flipping them. But, he said, I don't want to buy any dollar stock.
People see potential for Washington Mutual(WM), too, he said. There's a lot of people who feel like the moment the plan gets in, there's going to be a premium bid for Washington Mutual. I think that's just ridiculous.
Moving away from financials, Cramer said that if the rules against offshore drilling are done away with and we actually open up our shores, Schlumberger's(SLB) a big win, not just Transocean(RIG). Transocean is the leader, he said, and Schlumberger will follow.
Published By TheStreet.com
Labels: AIG, American International Group, CNBC's Stop Trading, Fannie Mae, FNM, FRE, Freddie Mac, Jim Cramer, Stop Trading, Washington Mutual, WM
posted by Stock Administrator @ 7:21 AM
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