Mrs. Cramer: You shoulda been long, dummy
When the market goes topsy-turvy, it's time to defer to a higher source.
It's easy to suspend belief. Last week was one of those world-coming-to-an-end weeks that we get about five or six times out of 52. The last few earnings reports were not so hot. The charts showed wreckage abounding. President Barack Obama was hell-bent to start a war with Syria, and the 10-year U.S. Treasury bond threatened to hit 3% once again. (Wouldn't it be great if it just got there already?) The banks were rivaling the techs for ugliness, and the only upside was a vicious short squeeze in Saleforce.com (CRM) as the bears were ousted at last.
Now, with Syria sidelined for the moment and with China dishing out some good news signaling the end of something or other, we've gotten a reprieve. Plus, we just got a Verizon (VZ) deal that's so huge, so immense, it's like a government-injected works program. Meanwhile, Nokia (NOK) -- one of my favorite speculative plays -- is seeing its shares soar after Microsoft (MSFT) said it is buying its handset business. How can you not like what that does to the spec juices? How can you not like what that does to the spec juices?
(Microsoft owns and publishes Top Stocks, an MSN Money site.)
Still, it's easy to see why no one is buying this. If I were coming in short today, I would say the following:
1. China is all phony, and we know that's because things are terrible there, and one number doesn't change things. (That's now an evergreen answer.)
2. Japan is in the grips of a new wave of taxes.
3. India is horrendous.
4. Employment numbers are due out Friday, and those numbers will send the 10-year to 3%, which will lead to a stock-market drop of enormous proportions.
5. It's the Jewish New Year, and don't always stocks go down then?
Of course, if you are short you must, must, must proclaim the phoniness of it all.
At moments like this, though, I always default to Karen Cramer reasoning. One: It's better to be lucky than good. Two: You should have been long, dummy.
Jim Cramer is a co-founder of TheStreet and contributes daily market commentary to the financial news network's sites. Follow his trades for Action Alerts PLUS, which Cramer co-manages as a charitable trust and had no positions in stocks mentioned.
More from TheStreet.com
Mr..Obama and his senseless actions over Syria are causing market volatility ... traders will manipulate the news and the markets incessantly. Mr Obama says a military strike against Syria will strengthen US security -- HOW? Does he think Americans are that stupid. Congress, vote NO, No more lives should be endangered. Stop this madness.
The manipulation has begun - Boehner has joined the warmongers! -- and traders just made a nice profit selling out the market. . Congress, vote Obama and Boehner down, They want war for political reasons -- more young Americans could die. End this madnes
Don't worry, be happy.
Life is hard, but God is good.
Get busy living, or get busy dying.
Mr. Fat cat; I heard you can get high from toad licking.Is that true?Sounds like
something you`ld know about.
I don't think Syria has a Stock Exchange...
Although they may have a Camel Exchange.
Rome-Burning........This is MSN...Microsoft Network..
NOTHING... to do with NBC anymore.
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