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Traders Take the Hammer to Industrials

By Jim Cramer

 About this article:
 The industrials are so hated right now that I find it unnerving. Should Eaton have been down 10 at one point because it guided down by 20 cents off an $8 number? Should Parker-Hannifin have been down 4 at one point because of Eaton? Should Honeywell be back under the $50s even though it said things are OK? I believe you have to go back to the notion that until May we didn't see a worldwide slowdown. The market anticipated it and started selling off all of the industrials, but this market is very unforgiving, and the same reason why people had already sold Eaton down 10 was another good reason to sell it down another 10. To me there's no opportunity here for now. I am watching Foster Wheeler get hammered after hours because of Chicago Bridge & Iron. I see United Technologies below $60. Boeing...

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