Jim Cramer's Stop Trading! 10/23/07: Coach Loses

Recap of Jim Cramer’s comments on Stop Trading! Tuesday October 23. Click on a stock ticker for more analysis:

Coach (COH): Cramer admitted he was wrong to recommend buying Coach at $40; " I know retail has gotten weaker … we've always felt that the high end was immune, so maybe you're right... It's not as high-end as it used to be."

PMI (PMI) and MGIC (MTG): Cramer would sell PMI and MTG off of the sector downgrade by Lehman Brothers. Both stocks were down 11% in heavy trading on Tuesday. "They sliced through book value," Cramer said.

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