Jim Cramer's Best Blogs

What happens if Citigroup(C Quote) buys Nat City(NCC Quote)? What happens if Goldman Sachs(GS Quote) buys a bank or two? What happens if it turns out there is money that wants to have a little risk?

Usual caveats: Things are awful. Let's use the example of Freeport-McMoRan(FCX Quote). Copper is at a two-year low. There's no sign of a bottom. Gold is going down. The company's businesses are all headed lower.

But the stock was down 60%, and the dividend was at 4.5%.

Are the earnings down 60%? Maybe. But I would think they have to swing to a loss to take this stock to the $30s and 5% yield.

I am picking on FCX because it's unlike so many stupid companies that spent everything on buybacks. I could be picking on Nucor(NUE Quote) because it has a 3.5% yield and was just downgraded by Merrill Lynch from buy to hold.

There's too much reaction. NUE just dropped 40%, and now it comes off the list?

That just doesn't seem right either.

I have advocated that every rally should be sold. Maybe it's time to be more flexible?

Just a thought.

At the time of publication, Cramer was long Freeport-McMoRan, Goldman Sachs and JPMorgan Chase.