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Synovus! (SNV - commentary - Trade Now) How can this "little bank that couldn't" be hurting people so badly? I think that this now dangerous situation is a reminder of the precarious nature of the regional banks. That's rough, because I think the regional banks are putting pressure on the good ones. Let me take a step further and say that they are hurting even JP Morgan (JPM - commentary - Trade Now), which should be standing out here. They will also hurt Capital One (COF - commentary - Trade Now) and PNC (PNC - commentary - Trade Now), which were vindicated this quarter.
My hope is that somehow Synovus finds another sugar daddy somewhere. But I can't imagine there is a Plan B and Synovus is beginning to look like CIT (CIT - commentary - Trade Now). We can handle one CIT, we can't handle another. So, suddenly my screen is filled with the symbol SNV, and it is a symbol not just for the stock, but for a particularly ugly and threatening moment in the largest cohort in the S&P 500. Random musings: I am a little worried about CommScope (CTV - commentary - Trade Now), given the weak numbers from analogue General Cable (BGC - commentary - Trade Now). At the time of publication, Cramer was long JPM.
Special note from Jim: You can learn my time-tested ways to trade smart, even in this market. All my latest thinking is in my brand new book, Getting Back to Even, which I'll send to you as part of a special promotion when you sign up for my ActionAlertsPlus.com service for a limited time. So if you sign up now, you'll get to see how I'm playing these stocks in my portfolio today, plus, I'll teach you how you can play these stocks to help your portfolio get back to even.
At the time of publication, Cramer was long JPM. Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here. TheStreet.com has a revenue-sharing relationship with Amazon.com under which it receives a portion of the revenue from Amazon.com purchases by customers directed there from TheStreet.com. Brokerage Partners
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