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Secondaries Are Offering Solid Returns Here

By Jim Cramer

 About this article:
 One great way to gauge a market is how secondaries are holding up. You do a secondary when you are in dire need of capital and when the banks are calling for your head. You never want to do one, particularly after a stock has been "softened" so existing shareholders get annihilated. But this time, ever since the market bottomed, every time there had been one of these, you had to act, and act fast. Consider CIT . Here's a left-for-dead stock that has, improbably, given you a terrific 20% gain since the pricing at $4 of a $300 million offering near the end of the year. Admittedly, CIT has done a ton of different kinds of offerings all the way down, and you have been punched in the stomach each time you participated. But not this time. And it's been one to watch now that CIT's...

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