TheStreet.com RealMoney

Wait for the Rumors to Stop Working

By Jim Cramer

 About this article:
 Remember 1990. Back then, it was so easy to rumor down a stock. We will not know when the all-clear in this market is sounded; we'll only know when the rumors don't work. And we aren't there yet. I heard, for example, that those who have more than $100,000 in Countrywide's bank are pulling out. I didn't even know it had a lot of that kind of deposit. I also am seeing raids on H&R Block, CIT and on IndyMac. These kinds of raids are just broker-to-broker, whispers of things about to happen if the Fed doesn't move. One day these stocks will be hit with rumors but they won't go down. Until then, expect more volatility, more downside and more Fed cuts. At the time of publication, Cramer had no positions in any of the stocks mentioned in this post. ...

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