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Goldman Sachs cited mediocre selling prices and glut of solar panels as the firm’s reason to drastically cutting estimates for the solar sector, Cramer said during Tuesday’s Stop Trading!. Those estimates were so far below the rest of Wall Street that there could be weeks, if not months, of estimate cuts coming.
“It was a very daunting piece,” Cramer said, adding that any investors who planned on buying solar stocks like First Solar [FSLR
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NYSE Euronext [NYX
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] posted some good numbers for the month, enticing Cramer enough to say NYX might make a good value play. But a recent stock lockup expiration has increased selling of the exchange. Cramer also said he was unhappy about the NYSE’s recent comments against a reinstatement of the uptick rule against short selling. The Mad Money has been a longtime proponent of bring back that rule, which requires a stock to tick up in price before it’s sold short.
Watch the video for Cramer’s take on Bank of America [BAC
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] and the Federal Reserve’s strategies for saving the market.
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