Countrywide (CFC), Hovnanian (HOV), Pulte (PHM), KB Homes (KBH), Merrill Lynch (MER): Countrywide's 30% rally may mean a speculation opportunity in hard-hit homebuilding stocks. HOV, PHM and KBH may be worth a risk before the Fed's interest rate decision on Wednesday, said Cramer. Friday's short covering on CFC may have a repeat performance in these stocks. Cramer has faith in MER's CEO, Stan O'Neal and thinks the writedown headache early in the week was unfair. "I believe in second chances," he said.
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