On today’s STOP TRADING segment on CNBC, Jim Cramer said the financials dropping is in-line with the "avoid brokers until Friday" thesis. These are names Cramer likes in this deflationary market:
AT&T (T) has a great dividend and he considers it a defensive stock.
3M (MMM) is the most aggressive buyback of any stock.
Heinz (HNZ) is another one he likes.
He still thinks that most of the sub-prime industry players will fail and only a couple of the strong will survive. To avoid a crisis and to keep the slightly above sub-prime borrowers up above imploding, he thinks this will drive the Fed to cut at one of the coming meetings. Cramer doesn’t think the bottom is there yet in sub-prime and thse will continue to fail and take things down.
Jon C. Ogg
March 13, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.