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 Cp ( - $69.78
- +0.98%
- $68.89
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
Natl Oilwell Varc - $45.13
- -1.18%
- $45.59
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
C S X Cp - $47.75
- -1.47%
- $48.09
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 So Cp - $51.80
- -0.29%
- $51.63
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.

-
UNP
Union Pacific - $62.12
- -0.42%
- $61.88
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
Burlingtn N Sante - $97.59
- -0.01%
- $97.39
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 Grp - $176.51
- -0.03%
- $176.40
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 - $33.70
- -0.74%
- $33.81
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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A. The only one I own : SLX,
too hard pick a winner out all of them
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