Cramer's Stop Trading! Markets Taking a Breather (3/19/09)

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Includes: C, FDX, FMCC, FNMA
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Program. Thursday March 19.

Fed Ex (NYSE:FDX), Fannie Mae (FNM), Freddie Mac (FRE), Citgroup (NYSE:C)

Fed Ex popped 6% on CEO Fred Smith's statements that the worst of the company's declines are over after profits fell 75%. Cramer says the 6% rise is evidence of a new bullishness in the market. He interpreted a decline in the Dow as a result of options-taking and says the market is just taking a breather after an impressive week, including a rally in former-loser financials Fannie Mae, Freddie Mac and Citigroup. Cramer suggested taking some profits and waiting for the next big rally. He doesn't predict a steep decline, because he thinks buyers are preparing themselves for the next rally and buying stocks. Finally, Cramer said the proposal to tax at a rate of 90% those who receive $250,000 bonuses is foolish and counterproductive.

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