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Jim Cramer fills his blog on
RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
- the financial shakeout,
- pigheadedness and the U.S. energy policy, and
- Apple.
Click here for information on
RealMoney.com, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.
This Financial Shakeout Was Bound to Happen
Originally published on Wednesday, May 21, at 2:18 p.m.
Oh, doctor, is this market getting ugly. That whole big gain in retail is vanishing. The aerospace move is being repealed badly.
Boeing's (BA Quote - Cramer on BA - Stock Picks) giving up so much gain, no doubt because of what is perceived to be the end of the American airline business -- people in "
Beat the Street" sure think so, and are winning with the strategy. I see pure defense aerospace stocks going down, too:
General Dynamics (GD Quote - Cramer on GD - Stock Picks) and
Raytheon (RTN Quote - Cramer on RTN - Stock Picks) attract me, the latter an
Action Alerts PLUS name that's too cheap.
Some of this decline is a recognition that once again the financials are being cracked. No more
Fed cuts? More bad loans? All of it. Plus new negatives on the brokers -- failed hedges.
Lehman Brothers (LEH Quote - Cramer on LEH - Stock Picks)!? Ouch.
The Fed meetings sure don't help, with the idea that the banks have to have another leg down because the employment projections are terrible.
I am watching
Washington Mutual (WM Quote - Cramer on WM - Stock Picks) and
Citigroup (C Quote - Cramer on C - Stock Picks) and
Bank of America (BAC Quote - Cramer on BAC - Stock Picks) and
Wachovia (WB Quote - Cramer on WB - Stock Picks) just get killed. No Fed cuts bailing them out this time!