The health insurance stocks are all oversold after being cut in half after yesterday’s lowered forecast from WellPoint , Cramer said on Wednesday’s Stop Trading!
However, while these stocks are obscenely cheap, he doesn’t necessarily think they are due for a bounce just yet. Keep an eye on the sector, though. “I can’t believe that WellPoint will be lower than here at the end of the year,” he said.
On the financing and leasing company CIT Group , Cramer said he wouldn’t buy it because of its portfolio heavy on student loans and mortgages. But the company is a “model of disclosure” for divulging its finances truthfully and in full to the public, he said.
Cramer also said he was gun-shy on mining equipment maker Joy Global – a company he would recommend if it weren’t trading at its 52-week high. Once analyst estimates go higher, JOYG will look more compelling, he said.
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