Jim Cramer's Stop Trading! Stock Picks and Comments, Feb. 8

Recap of Jim Cramer’s comments on Stop Trading! Thursday February 8. Click on a stock ticker for more analysis:

Countrywide (CFC), HSBC (HBC), New Century (NEW), Wells Fargo (WFC), Bank of America (BAC), Citigroup (C), J.C. Penney (JCP)

Cramer believes that bad news from HBC and NEW is "just the beginning" of a shakeout of weaker performers in the low-end mortgage business. Cramer thinks that many of these companies had poor models and faulted HBC for being desperate enough to lower their standards in their purchase of Household International. However, Cramer said that WFC, BAC and C "have models that show they aren't "going to blow up," and would pick up CFC because it is cheaper than the rest. Cramer says that weakness in subprime lending may lead the Fed to cut interest rates sooner. On another note, he would buy JCP ahead of Valentine's Day, because it is the best-positioned department store.

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