Stop Trading!: Forgotten by the Fed
The Dow is up well over 100 points Wednesday thanks to the Federal Reserve's 25 basis point rate cut. Most of those gains came after the 2:17 p.m. announcement. But there's a group of stocks that's been declining, Cramer said on Stop Trading!.
As good as the quarter point cut is for the market, there are stocks that needed a half-percent. The housing sector has been going down in the past hour, Cramer said, and mortgage insurers can't seem to find a bottom.
Dry bulk shippers are back up Wednesday after a decline Tuesday. An analyst who upgraded the stocks Wednesday said the dip was due to Chinese importers and steel producers trying to drive vessel rates lower before next year's iron ore contract negotiations. Cramer maintained his bullish position on the sector and Diana Shipping.
Under Armour's clothing might be associated with traditional sports, but hunters actually make up 5% of the retailer's business. The colder the weather gets the more that line of apparel should "fly off the shelves," Cramer said. He recommended investors buy UA.
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