Cramer's Stop Trading! The Wells Fargo Tell (11/12/08)

Wells Fargo (WFC), Principal Financial Prudential (PRU), MetLife (MET),Pfizer (PFE)

 

Cramer told viewers to watch Wells Fargo as a tell on the market. A drop below the price of its secondary offering at $27 is a bad sign for the market. He noted Bear Stearns and Las Vegas Sands also fell below their secondary offerings. At closing on Wednesday, Wells Fargo was at $27.70 and Cramer expressed his hope that the financial would hold its ground. Cramer said Goldman Sach’s paper on insurance companies was a “frightening piece” which indicated Prudential, Principal Financial and Metlife need to raise capital to survive. Finally, Cramer is bullish on Pfizer which has an 8% and invests enough in research and development to offset the losses from drugs whose patents are about to expire. 

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Comments

[Britishsteel:]

you are a joke watch wfc lol you all out there in cyber space need to watch out for whats next and whats next is currency collapse. The treasury declares default on all debt period and we get new currency and all holders of US dollar get 2 cents on the dollar for the amero . Like George Bush senior has said its a new world order.

2008 Nov 13 07:42 AM

[bobbobwhite:]

If George Bush senior called it a new world order, he must know as his son caused it. He must be so proud.

2008 Nov 14 10:00 AM

[valueinvest...:]

I thought you were supposed to watch Apple. I wonder what random stock he will pick next week as a market indicator?

2008 Nov 14 12:09 PM