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Sell the Dirty Dozen While You Can

By Jim Cramer

 About this article:
 If it yields more than 10%, shoot it. That was the message of American Home Mortgage. It is also the message of a host of others: RAIT Financial Trust CapitalSource NovaStar with that cute reverse split, like that fooled anybody Newcastle Investment Gramercy Capital I hate these stocks. Every one of them. I don't even think they have an idea of how bad things are, just like American Home. I am giving Redwoods Trust and Thornburg Mortgage the benefit of the doubt because they did jumbo loans. But if they did jumbo loans -- for the allegedly rich -- in 2006, that benefit goes away because 2006 is all bad. You might get a chance to get these off your sheets today because of the so-called better than expected earnings from IndyMac just now. I'd sell that one too because defaults are rising, which is all that matters right now. The overall tone of the...

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