Sell the Dirty Dozen While You Can
By Jim Cramer- TheStreet.com/RealMoney
If it yields more than 10%, shoot it. That was the message of American Home Mortgage.
It is also the message of a host of others: RAIT Financial Trust CapitalSource NovaStar with that cute reverse split,
like that fooled anybody Newcastle Investment Gramercy Capital I hate these stocks.
Every one of them. I don't even think they have an idea of how bad things are, just like American Home.
I am giving Redwoods Trust and Thornburg Mortgage the benefit of the doubt because they did jumbo loans.
But if they did jumbo loans -- for the allegedly rich -- in 2006, that benefit goes away because 2006 is all bad.
You might get a chance to get these off your sheets today because of the so-called better than expected earnings from IndyMac just now. I'd sell that one too because defaults are rising, which is all that matters right now. The overall tone of the...
NOVASTAR FINL INC (NYSE:NFI)
Last Trade: 5.11
Trade Time: 3:28PM ET
Change: 0.18 (3.40%)
Prev Close: 5.29
1y Target Est: 59.33
Day's Range: 4.69 - 5.50
52wk Range: 4.17 - 136.80
Avg Vol (3m): 1,474,290
Market Cap: 48.41M
P/E (ttm): 0.52
EPS (ttm): 9.90
Div & Yield: 22.40 (439.20%)= Fire for effect!!!!!!!!!!