Cramer Says Sell Sears (SHLD), Hang on to Pier 1 (PIR), and Trim Int'l Banks, Tech
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And now, brief insight from Jim Cramer, and his Twitter account: [at] JimCramer (with some light editing done, nothing to alter the original message though):
"Couple of quick ones: no i still don't like [Sears Holdings (Nasdaq: SHLD)], i still DO like [Pier 1 Imports (NYSE: PIR)] and i still think that tech and int'l banks should be trimmed."
Obviously, Sears Holdings is down about 25 percent on the session. So, if you're one of those folks that listened to Cramer and held on since $60 or above, well, maybe it won't go any lower.
Pier 1 has been a good performer, and is actually near 5.5 year highs. But, really, before the financial meltdown in 2008, Pier 1 shares basically traded sideways. If you had to decide between Pier 1 and Microsoft (Nasdaq: MSFT), maybe Microsoft would be a better option, because it pays a dividend with an annual yield of about 3.1 percent. Pier 1 pays no dividend currently. Pier 1 shares have also been a little volatile, and might just as easily drop back down to $12 as it will move to $15.
Trimming bank stocks might be a good idea, but upside on names like UBS (NYSE: UBS), Credit Suisse (NYSE: CS), and Deutsche Bank (NYSE: DB) might be worth tossing some money at.
Tech stocks are always a little iffy. Consumer electronics could see a surge should people start feeling more comfortable, and become more inclined to open their wallets back up again.
The bear case for Cramer's call is that there is no economic recovery in store over the next 12 months, in which case all the above assumptions are null and void.
Into the close, Pier 1 is up about 0.5 percent, and foreign banks are largely in the red.
Other plays: Financial Select Sector SPDR (NYSE: XLF), SPDR S&P Regional Banking ETF (NYSE: KRE), Technology Select Sector SPDR (NYSE: XLK), Market Vectors Semiconductor ETF (NYSE: SMH).
(Note: the author holds no positions in these stocks.)
"Couple of quick ones: no i still don't like [Sears Holdings (Nasdaq: SHLD)], i still DO like [Pier 1 Imports (NYSE: PIR)] and i still think that tech and int'l banks should be trimmed."
Obviously, Sears Holdings is down about 25 percent on the session. So, if you're one of those folks that listened to Cramer and held on since $60 or above, well, maybe it won't go any lower.
Pier 1 has been a good performer, and is actually near 5.5 year highs. But, really, before the financial meltdown in 2008, Pier 1 shares basically traded sideways. If you had to decide between Pier 1 and Microsoft (Nasdaq: MSFT), maybe Microsoft would be a better option, because it pays a dividend with an annual yield of about 3.1 percent. Pier 1 pays no dividend currently. Pier 1 shares have also been a little volatile, and might just as easily drop back down to $12 as it will move to $15.
Trimming bank stocks might be a good idea, but upside on names like UBS (NYSE: UBS), Credit Suisse (NYSE: CS), and Deutsche Bank (NYSE: DB) might be worth tossing some money at.
Tech stocks are always a little iffy. Consumer electronics could see a surge should people start feeling more comfortable, and become more inclined to open their wallets back up again.
The bear case for Cramer's call is that there is no economic recovery in store over the next 12 months, in which case all the above assumptions are null and void.
Into the close, Pier 1 is up about 0.5 percent, and foreign banks are largely in the red.
Other plays: Financial Select Sector SPDR (NYSE: XLF), SPDR S&P Regional Banking ETF (NYSE: KRE), Technology Select Sector SPDR (NYSE: XLK), Market Vectors Semiconductor ETF (NYSE: SMH).
(Note: the author holds no positions in these stocks.)
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