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August 23, 2010

It's Really, Really Ugly Out There

Jim Cramer, TheStreet.com

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This column by Jim Cramer appeared earlier Monday on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.

Take the banks. Many are breaking down to or below levels where they did big financings, some well below, like Wells Fargo(WFC), BB&T(BBT), JPMorgan(JPM) and Bank of America(BAC) -- all pretty decent banks. Others have good yield but the yield doesn't seem to stop the decline one bit as we can see from People's United Financial(PBCT) or Astoria(AD), or, worst of all, Hudson City(HCBK), which has a 5% yield and no problem at all paying it. The charts seem to think that it isn't good for it, though, because utilities of similar quality and less yield are going higher. Or how about the incredible shrinking multiple of tech? Google's(GOOG) at 19...
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TAGGED: stocks, Jim Cramer

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