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[Ulisses Pereira]

"Sell Something"

By Jim Cramer
RealMoney.com Columnist
4/11/2007 3:11 PM EDT

"This market's sold to you. I want to hammer home what I would do if I were back at my hedge fund right now. I would be selling all of my marginal stocks -- the ones I wasn't crazy about -- selling them right into this downturn.

I just think that the upside's been capped by earnings season, a recalcitrant Fed and the prospects, most certainly, of at least three or four more collapses in crummy loaners, including some of those that haven't even bothered to examine their dividends or book values. Think of it like this: The other day American Home Mortgage (AHM - commentary - Cramer's Take - Rating) cut its outlook and dividend. The stock got hit, the market didn't.

I have to tell you that if we got that same news today, we would kill this market. And American Home is one of the better ones. If the mainstream media even picked up my FBR (FBR - commentary - Cramer's Take - Rating) story, it would cause a new concern over subprime.

I think that we are in a rough patch. Sell something.

It will make your life easier in the next few weeks.

And don't blame the Fed notes. We are as due as I can recall for a decline. "

(in www.realmoney.com)