Jim Cramer's Stop Trading! 11/2/07: Target Hits Bottom

by: Miriam Metzinger

Recap of Jim Cramer’s comments on Stop Trading! Friday November 2. Click on a stock ticker for more analysis:

PMI (PMI), Radian (NYSE:RDN), MGIC (NYSE:MTG): Cramer predicted there would "obviously" be another 1% rate cut, adding the crisis is bigger than inflation fears; "It's crisis that they worry about and, if a major bank or a lot of mortgage insurers fail, we'll have to act, whether they like it or not." Concerning bullish statements made by mortgage insurers PMI, RDN and MTG, Cramer said, "They know nothing," and would sell the stocks.

Target (NYSE:TGT), Costco (NASDAQ:COST), Google (NASDAQ:GOOG): In spite of widespread pain in retail, Cramer called a bottom in TGT and said should the stock should rise on the potential sale of its card. He says COST has pulled back enough to buy. Google is still Cramer's favorite in the tech sector.

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