Recap of Jim Cramer's comments on Stop Trading! Monday September 8.
Citigroup has some value because of its deposits, but the company must be on its guard, as it could be the next target of short sellers, warned Jim Cramer. “I am warning Citigroup right now that [hedge funds] are going to raid you,” he said. “Just get ready.” Cramer also said that He’s predicting many banks will benefit as the Federal Deposit Insurance Co. takes over failing institutions and sells their deposits at a discount. US Bancorp might be sought out by the FDIC to take on some of the deposits of bad banks. Elsewhere in the sector, Wells Fargo is being underestimated, Cramer believes, but he believes it's the best-run bank in America. Additionally, he said that BB&T could be ready to make acquisitions.
And the financials won’t be the only companies enjoying government intervention. Turning to the automakers, Cramer said he wouldn't be surprised to see government intervention for GM and Ford because too many states are up for grabs in the presidential election for nothing to be done. “I don’t think anyone is going to stand up and vote against GM and Ford in an election year,” he said.
Oil After Ike - FedEx (NYSE:FDX), VF Corp. (NYSE:VFC), Home Depot (NYSE:HD) and Sears Holdings (NASDAQ:SHLD)
Oil stocks may be up on the imminent landfall of Hurricane Ike, but if the storm doesn’t hit as hard as expected, Cramer said that oil could open Monday at $90 a barrel. The resultant lower gas prices will boost stocks like FedEx, VF Corp., Home Depot and Sears Holdings.
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