TheStreet.com RealMoney

Beware the Dead-Financials Bounce

By Jim Cramer

 About this article:
 Crazy, but it seems to me that the moves in stocks like Ambac Financial and PMI or in MGIC and MBIA may actually be driven by all the stock-picking contest being played right now. That's right, the actual games at CNBC and TheStreet.com. I say that because the fundamentals for these companies, totally dependent upon the housing situation in this country -- which continues to deteriorate -- are just awful. These stocks have become raindrops, and people are betting on them. There's no edge here if you are investing that they are going to go up for long, raindrops sure don't. But on a given day you can get bounces in these dying companies' stocks out of the various releases that these companies put out about their solvency, pretty much a weekly occurrence. To me these companies are, in the end, doomed to the fate...

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