Last Chance Lehman - Cramer's Stop Trading! (9/9/08)

by: Joan Wickham

Recap of Jim Cramer's comments on Stop Trading! Tuesday September 9.

Last Chance – Lehman Brothers (LEH)

"I want to be very clear about Lehman Brothers," Jim Cramer. "It does not have a deposit bank. It is very questionable. This has become an extremely speculative security, only for people who are willing to lose it all or make a little something." Cramer said that Lehman could've made a deal over the weekend with a potential buyer, but now it was too late, and no one else was interested. "It's a great firm," he said, "but they had their chance. They had to act on Friday, and they didn't."

Breaking News – Apple (NASDAQ:AAPL), Washington Mutual (NYSE:WM)

There was breaking news that Apple.CEO Steve Jobs had announced after the company's "Let's Rock" event that he was in good health and that unnamed hedge funds were responsible for the weakness in Apple's stock. "I wish he hadn't said that," responded Cramer. "That's worse than saying they're going to report bad earnings. The unnamed hedge funds are taking down Washington Mutual. The unnamed hedge funds are in charge, and they're dangerous."

Discount Best - 99 Cents Only Stores (NYSE:NDN) "Family Dollar (NYSE:FDO)

Cramer also weighed in on 99 Cents Only Stores. "Family Dollar is the better name," he said. 

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