Cramer: "Reading Recipe for a Pause in the Rally"
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Cramer: "Reading Recipe for a Pause in the Rally"
"Reading Recipe for a Pause in the Rally"
By Jim Cramer
RealMoney.com Columnist
10/11/2006 2:49 PM EDT
"I don't like this tape. Too many negative crosscurrents.
The staples are plummeting. We lost the wealth management thesis, which is going to hurt all the banks. The two-gun shot of Bank of America's (BAC - commentary - Cramer's Take) new free-trade plan and Legg Mason's (LM - commentary - Cramer's Take) warning is too hard for people. The biotechs and drugs are weak. We have oil going much lower and the Street worried that the Fed is about to be hawkish. Alcoa (AA - commentary - Cramer's Take) doesn't (and never) helps.
This is all a recipe for a real pause in the rally, and as much as I like the market, I think that we have to be cognizant that a quick correction could be upon us.
We have to be careful.
We have to. "
(in www.realmoney.com)
By Jim Cramer
RealMoney.com Columnist
10/11/2006 2:49 PM EDT
"I don't like this tape. Too many negative crosscurrents.
The staples are plummeting. We lost the wealth management thesis, which is going to hurt all the banks. The two-gun shot of Bank of America's (BAC - commentary - Cramer's Take) new free-trade plan and Legg Mason's (LM - commentary - Cramer's Take) warning is too hard for people. The biotechs and drugs are weak. We have oil going much lower and the Street worried that the Fed is about to be hawkish. Alcoa (AA - commentary - Cramer's Take) doesn't (and never) helps.
This is all a recipe for a real pause in the rally, and as much as I like the market, I think that we have to be cognizant that a quick correction could be upon us.
We have to be careful.
We have to. "
(in www.realmoney.com)
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