Recap of Jim Cramer’s comments on Stop Trading! Thursday January 10. Click on a stock ticker for more analysis:
Bank of America (NYSE:BAC), Countrywide Financial (CFC), Wachovia (WB-OLD), Wells Fargo (NYSE:WFC), Berkshire Hathaway (NYSE:BRK.A), Ambac (ABK), MBIA (NYSE:MBI): "Shotgun marriages" are needed in the beleagured financial sector, said Cramer, and he pointed to deal between BAC and CFC as a prime example; "This is what happens at the bottom," Cramer said. "I just don't know why the Fed would say you got to pay a premium for Countrywide …They don't want Countrywide to go out of business, because the servicing thing would play havoc." He added WB and WFC should benefit from a rate cut. Another ray of hope, said Cramer, was Berkshire's courting mortgage insurers MBI and ABK.
AMR (AMR), Mosaic (NYSE:MOS): Cramer noted the comeback of aerospace and believes AMR will be "worth a lot." He thinks a month should pass before buying these stocks. Concerning Mosaic, Cramer said; "I love the ag guys because ag is so good … That Mosaic was down yesterday was just the shorts pressing their bets again."
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