On Tuesday Goldman Sachs Group (GS) put out a report that had a list of stocks that are in dire need of refinancing to stay afloat. Cramer called the group of stocks Goldman’s “hit list” and he advised investors to avoid them at all costs. The Goldman report highlighted four key factors that would send these banks running for new capital and drive share prices lower. The factors were: credit losses won’t peak until 2009, raising money will get harder, estimate cuts will hurt these stocks and the possibility for the Fed to increase interest rates is putting the yield curve at risk. Cramer told investors to avoid and sell Bank of America (BAC), Citigroup (C), EastWest Bancorp (EWBC), First Horizon (FHN), Huntington Banshares (HBAN), KeyCorp (KEY), Marshal & Iisley (MI), National City (NCC), Popular (BPOP), Wachovia (WB) and Washington Mutual (WM).
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