Jim Cramer new video. Just walk away and Plow the Inland Empire

NEW -> Contingent Buyer Assistance Program
oc-conservative....these guys are completely screwed. Now I wonder how this will effect IMPAC selling it's loans. They just reported yesterday and it wasn't pretty.
 
Whatever is being protested the most will be the next to go. Right now, they are all saying, "The blowup is contained to the mortgage market, but corporate credit is fine, and all the CDSs based on corporate credit are fine. There is no credit crunch. It is just a slight credit consolidation."

Lookout investment grade corporate bonds and all the derived paper.
 
So what will be best to short next? More financials? Which dominos are they setting up next?

I don't want to be greedy, but ...
 
I have been watching bonds set up lately. They rallied up to resistance at their 200MA. They will likely turn south and take the last dreams of ARM holders with them.

As for stocks, well, the originators of all these loans are being wiped out, so I guess you can mark them down as casualties. Who holds all the paper outside of hedge funds? I think your instinct on the other financials is probably a good one.
 
I just looked at the FNMA 30-year 6% bond and it broke through the 50 day moving average. It was up 22bps today whereas the 10-year t-bond was up 50bps. The FNMA has another 90bps to go to hit the 100 day MA which I doubt it will because the stochastic is screaming overbought. I have to look up the candlestick pattern but IIRC it should go up tomorrow and come crashing down again.
 
Best comment seen so far inre today's Cramer spew:

"Why wasn't Cramer screaming like this when lenders were handing out $500,000 loans to people with no jobs?

That was the time to do it."
 
It's funny. CNBC added a disclaimer at the end of the show that wasn't on the video earlier. That video must have got a lot of hits. "These opinions are that of Jim Cramer and not our own."
 
I got this from Yahoo News: Wonder what Cramer is going to do?

"...St. Louis Fed President William Poole told Bloomberg Television after the closing bell Wednesday it wasn't necessary for the central bank to consider lowering short-term interest rates before the regularly scheduled meeting of its rate-setting committee next month."

More comments by Poole: biz.yahoo.com/rb/070816/usa_fed_poole.html

BTW: Eva, that video is a riot!!!!
 
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