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Cramer said Wall Street money managers are known for making big bets on macro economy -- but four times a year, we call them earnings season, and those lofty bets come crashing back to reality. Fasten your seat belts, it's going to be a bumpy ride.Cramer said the financials are still showing the bad and the ugly of the markets and will likely continue to do so until the housing market fully recovers. "Get ready for severe disappoints" in technology stocks, said Cramer, as even the mighty Apple (AAPL), a stock he owns for his charitable trust,
Looking at CelgeneA broken stock, or a broken company? Choosing correctly between those two options can make investors a lot of money, Cramer told viewers, as he looked into the case of Celgene (CELG - Get Report), the biotech that surprised Wall Street last week when it pulled its European application for Revlimid, it's blockbuster drug. Cramer said shares of Celgene have fallen 11% since that news as no fewer than 19 analysts revised estimates downward for the company. He said that Celgene's credibility has been crushed, along with its stock price. But is the company now a buy?
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