Jim Cramer's Wall Street Confidential Picks, April 10

Recap of Jim Cramer’s comments on Wall Street Confidential, Tuesday April 10. Click on a stock ticker for more analysis:

On Not Feeling at Home with Housing: D.R. Horton (DHI), Pulte Homes (PHM), Lennar (LEN), Centex (CTX)

Cramer would not touch DHI, PHM or LEN, at least not with a long pole, after reading a report by Ivy Zelman of Credit Suisse during which she discussed her downgrade of Pulte and Horton and upgrade of Centex. Cramer comments DHI is "the most dangerous homebuilder" because it bought a gigantic amount of property in its quixotic delusion of "endless demand" and has the least written down on its property. Cramer would approve of shorting DHI and being long Centex. He says the problem with homebuilders is while "the rigor of the writedowns is clearly there, all the price targets are still way too high." He sees the potential of another leg down, and until more is written down on Horton and Pulte homes, he would not touch them on the long side.

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