Positive signs appearing all around
As the market shows resilience, researchers are seeing upside and spreading the word.
What a terrific test of the bulls. They survived a French downgrade. They survived a hideous loss and scandal at Hewlett-Packard (HPQ). They triumphed over an amazingly weak quarter at Best Buy (BBBY). And best of all, they beat back a huge, futures-led decline after Federal Reserve Chairman Ben Bernanke said the obvious, that he couldn't revive an economy that drives over a fiscal cliff.
How were we able to rally so effectively? Simple: First, the potential cease-fire in the Middle East removed an oil overhang that can always kill any rally in its tracks. Second, we are now getting a picture of a U.S. economy that's stronger -- not weaker -- than expected, largely because of the resurgent housing market.
Further, we are actually getting a very interesting research moment. Every morning, I put together the relevant stories I want to cover. That includes a roundup of the important research notes.
Ever since this decline accelerated last week, the bulk of the analyst commentary has become positive, not negative. It is almost as if there is a pact among the analysts to stop bashing stocks and start looking at them through a more positive prism. It's a brand-new phenomenon, and I think it is really helping the market.
That, plus the recognition of China as a positive force of good, not a negative force of bad, something that Doug Kass believes in too.
When the bulls in research come out en masse, they can stem declines on their own. My question is, what happens if we get some genuinely good news about the cliff, or Europe or earnings, unmitigated terrific news? I think we'd go much higher.
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 has no positions in the stocks mentioned.
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Jimmy says HP sell, sell, sell. Bloomberg says HP's almost uninvestable at this point.
Buffet says “Buy when others are fearful and sell when others are greedy”.
Time to sell Apple and buy Dell, HP, Microsoft and Nokia!
the bulk of the analyst commentary has become positive, not negative.
I'm guessing their not watching FOX NEWS...
AHHHH, HAAAAAA, HAAAAAA, HAAAAAAA!
Tumbles: The debt ceiling deadline wasn't a complete disaster because we raised it. All we got from it was a downgrade as a "timeout" for congress pushing everything to the brink before coming to resolution.
Y2K did cause some issues, just the doomday scenario people who didn't understand computersna machines thought it would cause. In no small part this is because there was a lot of preparation.
So yes.. if we prepare for and minimize the impact of an impending event as a deadline, or meet the obligations required by the deadline there isn't a disaster.
The Supreme court ruling on Obamacare wasn't really a deadline, there was nothing really time-sensitive about it. It was an event, one that basically killed the potential opposition. It left the only way to undo as congressional action which would require passing over a veto.
If Goldman Sachs hasn't figured out how to turn a potential European contagion loss into a profit with 3 years advance warning, it's their own damned fault
Both sides get exactly what they wanted when we go over the fiscal cliff. Spending cuts and revenue enhancement to help balance the budget
Since he sold out to MSNBC and NBC his opinion means about as much as the rating this companies get on thier shows.
He can not say anything bad and keep his job.
Just another talking head sell out
Austerity without the proper stimulus injections does NOT foster growth or recovery.
They continue to have high unemployment - and the riots continue.
BLONDIE......You have entered the BEARISH BLOG ZONE...
It's been around here for quite some time..
Much has Political undertones, "but gotten better"...Who would have ever thunk it ???
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The solid report comes a month after the retailer closed all of its Canadian operations.
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