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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who wrote (1919)2/28/2002 11:42:42 AM
From: Softechie  Read Replies (1) of 2155
 
Escape From Possible Enrons
By James J. Cramer
02/28/2002 11:12

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Did someone cure Enronitis ? Is that what happened yesterday? Did J.P. Morgan Chase JPM settle all of its bad loans? Are we back and ready for action in the financials?

I don't think so.

I think that you are being given a fantastic chance to get out of the companies that have accounting problems that aren't going away: Computer Associates CA , J.P. Morgan and Qwest Q to name a few stocks that are up and running off these big macro numbers.

Understand that the moment that we get good macro numbers -- GDP growth, Chicago Purchasing Managers up big -- you get a scramble by short-sellers to cover because they don't want to take on market risk. (They fear the market will lift all boats.)

You, on the other hand, don't have to play that game. Use the strength here, right now, to reposition that portfolio and get out of the once and future Enrons.
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