Tonight was Cramer’s big weekly SELL BLOCK feature. He briefly mnoted some stocks but said those don’t really matter in the big picture. He said he missed the really big call for the stock market sell-off this week. He didn’t pay attention to the bond market. If rates are under control you don’t have to worry, but when rates rise rapidly you have to pay attention. Bill Gross’ call can move the market even if he doesn’t agree because if the big money managers believe something, then it can become a self-fulfilling prophecy. As rates rise, the yield competes too much with stocks. He noted he’s an idiot for not paying attention to this. Cramer did say that he thinks the market selling is not done yet and you have to get a big gap down before it is done.
The second items in the SELL BLOCK was on Monster Worldwide (MNST). Monster does NOT belong in the sell block and he still thinks it will be acquired. He thinks the management team is a sale-team, and "don’t sell it" even though conventional wisdom says that this one is not going to be acquired.
Jon C. Ogg
June 7, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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