Jim Cramer's Stop Trading! 10/24/07: Financials Mess

Recap of Jim Cramer’s comments on Stop Trading! Wednesday October 24. Click on a stock ticker for more analysis:

Goldman Sachs (GS), Merrill Lynch (MER): For those who want to invest in financials, Cramer says GS is the only one to buy, because the majority of its exposure is now international. MER's earnings problems are sending its multiple higher and higher; "I don't need to buy a financial at 15x earnings. That's never been a good place to be. I want to emphasize that this is a group that has become a nightmare to own, because each day you could come in and discover that the floor has been taken out from underneath you." Cramer concluded financials are just "too hard."

Northrop Grumman (NOC) and General Dynamics (GD), Juniper Networks (JNPR) and Cisco (CSCO): In spite of its consistent performance, NOC is not getting the respect it deserves from investors who want more Iraq exposure, said Cramer. While GD is the preferred stock, Cramer notes that NOC is much cheaper. Concerning tech, Cramer said "Don't drink Juniper juice. Buy Cisco Systems."

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