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Autos, Aerospace Are Down for the Count

By Jim Cramer

 About this article:
 You can't lose autos and aerospace. Yet that's what's happening. The devastating aerospace downgrade by Goldman yesterday had pin action galore, wrecking everything from United Tech and Parker-Hannifin to BE Aerospace . It took the whole frame down with it and made everything toxic. And it happens at a terrible time. It isn't like Honeywell , which with a few days left in the quarter can come out defending itself. Goldman rolled a perfect strike. And now the bowlers are back for more with an equally devastating "sell everything" call based on GM . Once again it is seamless: Lear and Tenneco get jettisoned too, but you know that Visteon and American Axle and Johnson Controls and BorgWarner -- the good ones! -- go down with the car. Mind you, I am not even counting the Citigroup conviction...

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