FEATURED SLIDESHOW
Who Is The Worst CEO?Mad Money needed new inductees for its
Wall of Shame, so we asked viewers for
nominations.
RECENT POSTS
- Remorseful Regulator Leads Reform Fight
- Lightning Round: AT&T, Verizon, Novartis and More
- Lightning Round OT: Alcoa, Weight Watchers and More
- Why Amazon Rules Retail
- Nordic American: Sinking Ship or Titan Tanker?
- Cramer: What Monday’s Housing Number Really Means
- Cramer: Buy These Banks, If...
- Time to Buy Treasurys?
- Lightning Round: Las Vegas Sands, ADC Telecom, Satyam Computer and More
- Lightning Round OT: Knight Capital, Ebix and More
MAD MONEY FEATURES
PODCASTSWatch the Lightning Round whenever and wherever you want.
OFFICIAL MAD MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
CRAMERS SOUNDBOARDAdmit it: You've always wanted to hit the "They
know nothing!" button. Here’s your chance.
CHECK OUT OUR PHOTOSCheck out Cramer on set, back to school, behind the scenes and more.
SHOP FOR MAD MERCHANDISEBuy Cramer books, bobbleheads and other Mad Money merchandise.
RING TONESPick up the phone! It's Cramer! New Mad Money sounds for your cell phone.
TEXT MESSAGE ALERTMad Money's mobile. Get show highlights sent to your phone.
Text Size 
 |
It's a fearful day in the markets, Cramer said during Monday's Stop Trading!.
He attributed a bulk of the problem to single-digit stocks. They're falling on a percentage basis that is just "ghastly" if you're a shareholder.
Cramer also rejected the idea of bottom-fishing in this market. Wells Fargo [WFC
Loading...
()
] and Washington Mutual [WM
Loading...
()
] might not even make it through this rough period, at least if the 1990 savings-and-loan crisis is an accurate model. In fact, Cramer urged investors to stay away until all the weak banks had gone under.
"We just lost the first one, IndyMac [IMB
Loading...
()
]," he said. "Give us the chance to lose some more."
Downey [DSL
Loading...
()
], BankUnited Financial [BKUNA
Loading...
()
] and FirstFed Financial [FED
Loading...
()
] all need to raise more capital or suffer the same fate as IndyMac, Cramer said.
Switching to the latest on Fannie Mae [FNM
Loading...
()
] and Freddie Mac [FRE
Loading...
()
], Cramer said homebuilders made sense as a trade now that home-buying is being encouraged. He expects the group to bottom ahead of the banks.
"I do really feel like we're getting close," Cramer said, but that bottom won't happen until a major merger takes place in the housing sector.
Lastly, Oceaneering International [OII
Loading...
()
], Schlumberger [SLB
Loading...
()
] and FMC Technologies [FTI
Loading...
()
] all are plays on President Bush's lifting of the ban on offshore oil drilling. Of course, Congress has to approve the measure before any drilling takes place.
CORRECTION: A previous version of this post listed Bank of New York (NYSE: BK) as one firm in need of raising capital, instead of BankUnited Financial. It was the author's mistake, not Cramer's.
Questions for Cramer?
Questions, comments, suggestions for the Mad Money website?
Data is a real-time snapshot *Data is delayed at least 15 minutes