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The Sad State of Sears

Sears was down a big 10% today to $154.21. Cramer wanted to explain what he thinks it will take for the company to get back on track.

"The company has to start making some sales," he said. "It has to start selling some of this real estate.

"It's no longer an earnings story. It's become something you're going to have to hold for 18 months. I don't expect a lot of upside unless we see transactions.

"Am I disappointed? Extremely. Am I selling? No."

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