Cramer's Rail Stocks That Should Be Sold
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Date updated:08-14-2008
"If the momentum traders are to be obeyed -- and I think they have to be, short term -- you have to do what I hate to do and sell the rails, sell all of them because this is Day 1 of the selloff, and they never stop selling them once they are broken." - Jim Cramer
-
DVN
Devon Energy Corp - $66.13
- 0.00%
- $66.15
I wish I had listened to this kind of momentum nonsense when Devon (DVN) was at $123 and National Oilwell Varco (NOV) at $92.
-
NOV
National Oilwell - $40.08
- 0.00%
- $39.76
I wish I had listened to this kind of momentum nonsense when Devon (DVN) was at $123 and National Oilwell Varco (NOV) at $92.
-
CSX
Csx Corp. - $34.29
- +1.72%
- $33.63
Once the momentum guys turn -- and they are turning on CSX (CSX), Norfolk Southern (NSC), Union Pacific (UNP) and Burlington (BNI) -- they just don't stop. It is terrible to have to sell down 4, but the pattern has been that there is another down-4 day coming tomorrow, and then another, and then still one more ... punctuated by a plus-2 in the middle.
-
NSC
Norfolk Southern - $40.13
- 0.00%
- $39.46
Once the momentum guys turn -- and they are turning on CSX (CSX), Norfolk Southern (NSC), Union Pacific (UNP) and Burlington (BNI) -- they just don't stop. It is terrible to have to sell down 4, but the pattern has been that there is another down-4 day coming tomorrow, and then another, and then still one more ... punctuated by a plus-2 in the middle.
-
UNP
Union Pacific Cor - $53.00
- 0.00%
- $52.26
Once the momentum guys turn -- and they are turning on CSX (CSX), Norfolk Southern (NSC), Union Pacific (UNP) and Burlington (BNI) -- they just don't stop. It is terrible to have to sell down 4, but the pattern has been that there is another down-4 day coming tomorrow, and then another, and then still one more ... punctuated by a plus-2 in the middle.
-
BNI
Burlington Northe - $77.04
- 0.00%
- $76.23
Once the momentum guys turn -- and they are turning on CSX (CSX), Norfolk Southern (NSC), Union Pacific (UNP) and Burlington (BNI) -- they just don't stop. It is terrible to have to sell down 4, but the pattern has been that there is another down-4 day coming tomorrow, and then another, and then still one more ... punctuated by a plus-2 in the middle.
-
GS
Goldman Sachs Gro - $143.13
- 0.00%
- $143.25
The market's obviously pretty dysfunctional here, but when you see this kind of selloff in stocks, you have to respect that it's just beginning, not ending. I would sell the rails, which have been favorites of mine. I would be a buyer of the two financials that are getting killed today, JPM and Goldman (GS), and after selling some Morgan Stanley (MS) for Action Alerts PLUS, I am looking to rebuild that one lower.
-
MS
Morgan Stanley - $30.09
- 0.00%
- $28.27
The market's obviously pretty dysfunctional here, but when you see this kind of selloff in stocks, you have to respect that it's just beginning, not ending. I would sell the rails, which have been favorites of mine. I would be a buyer of the two financials that are getting killed today, JPM and Goldman (GS), and after selling some Morgan Stanley (MS) for Action Alerts PLUS, I am looking to rebuild that one lower.
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