Cramer’s not betting with or against Countrywide Financial just yet, he said during Stop Trading!
The FDIC will protect deposits over $100,000. If it turns out that those depots are leaving Countrywide, then you should stay away from CFC, Cramer said. But if the nation’s largest mortgage lender can keep those loans, “then you have a good trade.”
Lamar Advertising , which Cramer has liked because it isn’t exposed to the “TiVo effect” that has hurt television advertising, has been down dramatically over the past few weeks. Lamar is heavily levered to digital LCD advertising, which has come under pressure lately from federal and state highway authorities for being “too eye-catching” for motorists. Cramer thinks that issue may be priced into stock, which is why Lamar seems “intriguing” at its current price, he said.
Cramer can’t figure out why Celgene is down today and he will hesitate to recommend it until he finds the reason. The biotech company “should be working here,” Cramer said. Elsewhere in the sector, Cramer thinks PDL BioPharma could go up for sale now that its CEO has resigned. And if it does, it “would go out for substantially more” than it’s trading for now, he said.
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