, Jim Cramer said Tuesday on CNBC's Stop Trading! segment.

Cramer said he was wrong with a call last quarter to buy the accessories retailer in the low $40s. That fact came to light Tuesday morning, when Coach issued cautious year-end guidance, sending its shares plunging 13% in furious trading, to $36 and change.

Cramer doesn't like the mortgage insurers either. He'd be selling


( PMI) and


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off yesterday's Lehman Bros. downgrade of the sector.

"They sliced through book value," Cramer said of the mortgage insurance stocks, which were each off 11% in heavy trading Tuesday after similar declines Friday.

At the time of publication, Cramer had no position in stocks mentioned.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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

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