Old Republic's Surge Offers a Way Out

Sometimes you just get lucky. The buying spree of Old Republic (ORI - commentary - Cramer's Take) -- MGIC Investment (MTG - commentary - Cramer's Take) and PMI Group (PMI - commentary - Cramer's Take) stakes -- will cause a short squeeze that could move up all the financials, which are all operating under severe short-selling pressure.

The acquisition of stock does matter, even if it is from another insurance company that's not doing well.

No matter. A squeeze is a squeeze, and it gives you another chance to let go of the mortgage-related financials.

Believe me, if things are really all clear, the non-mortgage-relateds, like Goldman Sachs (GS - commentary - Cramer's Take), will go up the most.

So I would hide in Goldman and scale out of the rest into the squeeze if you need some financial exposure.

At the time of publication, Cramer was long Goldman Sachs.

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