NEW YORK (TheStreet) -- "I hate it when the CFO resigns," Jim Cramer explained on CNBC's "Cramer's Stop Trading" segment. And that's exactly what happened with Avon Products' (AVP) CFO Kimberly Ross, who will become the CFO at Baker Hughes (BHI) .
When the "numbers keeper" leaves, investor skepticism is permitted, Cramer, the co-manager of the Action Alerts PLUS portfolio explained, especially considering how "horrendous" Avon has been.
He pointed out that Fred Hassan, chairman at Avon Products, also resigned this year.
It's "too early" to start trying to pick a bottom in the stock price, Cramer concluded. "Be careful, very careful."
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.
-- Written by Bret Kenwell in Petoskey, Mich.