Stocks discussed on the Jim Cramer's Stop Trading! TV segment, Friday July 10.
GM (GMGMQ ), AIG (AIG), Novellus (NVLS), Apple (AAPL)
Cramer criticized the SEC for resigning investors to the caveat emptor school of non-regulation. The fact that GM's "worthless" stock and AIG are even trading at all leaves investors vulnerable to "traps" that are inevitably a loser's game; “This is the American securities market, for heaven’s sake,” Cramer said. “There’s no caveat emptor. Protect us.”
The mood on The Street is overly bearish, and all good news is being ignored. Cramer gave the example of Novellus which had a paltry lift after two important upgrades.
Cramer predicts Apple will report a number that will "blow your socks off."
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