Cramer's Deadly Secondaries
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Created by barrons3
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Date updated:06-25-2009
"But I think it is worth pointing out that those companies that did deals represent some of the hardest-hit merchandise out there and I don't think the hitting is over." - Jim Cramer
-
TXT
Textron Inc - $20.08
- -3.14%
- $19.84
These secondaries are proving to be land mines all of a sudden. Take the Textron (TXT) secondary at $10.50. You had a nice gain going there for a while, but that's just vanished.
-
APC
Anadarko Petroleu - $60.67
- -2.73%
- $60.34
Anadarko (APC) has been a fantastic 10% gainer ... poof.
-
COF
Capital One Finan - $37.24
- -3.92%
- $37.39
Capital One (COF) has never been in the black, but now you are being roasted alive on that one.
-
X
United States Ste - $43.05
- -1.42%
- $41.74
U.S. Steel's (X) in free fall; that 19-point gain seemed too good to be true.
-
FITB
Fifth Third Banco - $9.57
- -3.72%
- $9.65
Do you want to stick around until Fifth Third (FITB) breaks the $6.33 print price?
-
WFC
Wells Fargo & Co - $27.14
- -2.48%
- $26.96
These offerings now all seem dicey with a lot of excess stock kicking around. I think that's fine in the case of Wells Fargo (WFC); I have been waiting for that stock to pull back after its miraculous run to $28 after the secondary.
-
BAC
Bk Of America Cp - $15.47
- -3.01%
- $15.34
I wish Bank of America (BAC) would come in.
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