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:
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earlier -- you want to start buying these stocks now. It defies the pattern not to start here with these numbers. The group is oversold; it is ready to bounce. At the time of publication, Cramer was long Freeport-McMoRan.
"the rant" about mortgages. Amazingly, I always bring up MGIC ( MTG) and PMI Group ( PMI) as bigger problems, hapless insurers that bought back a huge amount of stock at much higher levels, and I believe I must do what CIT ( CIT) did, which is to increase liquidity by offering equity right here. No one seems to have these two on their radar screen except for Doug Kass, which is pretty amazing. Today I see that Countrywide is trying to refinance some of the deadbeat loans. How are they going to do that at 4.75% borrowing costs or higher? How can they? I don't think they can. Watch Countrywide. Watch WaMu. And, I believe, watch PMI and MGIC. Those are the Achilles heels of the system. They are not getting better. They are getting worse. At the time of publication, Cramer had no positions in any of the stocks mentioned in this post.