This column was originally published on RealMoney on Oct. 6 at 1:37 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.
Thesis changed. Bummer! If you have held
through this gain, I believe you have to take something off the table right now when it is only down a buck and change.
You cannot have as good a stock
without Jerry York on the board as you have had with him.
If I owned
and York had resigned from their borads, I would have sold them because I wouldn't have had enough faith in entrenched management to get you there.
GM's a good story. But it is now a not-as-good story.
I like GM CEO Rick Wagoner knowing that Jerry York is in there helping him. I don't like Wagoner without York. This is a victory for the old regime.
The old regime is what dragged down the stock to begin with.
Not good. Not good at all.
Can't pretend that it is.
Upon closer review, this
is more worrisome for
thought, because weakness is now in North America. I don't think it can be all sharetaking from Deere, and Deere has had a big run from $66.
At the time of publication, Cramer had no positions in stocks mentioned.
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