New Century (NEW), NovaStar (NFI) and Camden Property Trust (CPT): Cramer says the "overdone" panic over sub-prime lending will have a lasting impact on only "one or two ne'er do wells." Although it is possible a major financial institution may take a hit from the NEW and NFI fiasco, he emphasized the "rush to capital from this sector," and predicts that all but the weakest will survive. On another note, Cramer is bearish on CPT because it has had a big run.
Saks (SKS) and J.C. Penney (JCP): Cramer is bullish on SKS and JCP and believes in the consumer, although "no one on Wall Street has any faith." He also notes that "non-traditional providers of liquidity" have now gone into that sector, which is another reason to be bullish.
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