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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Boehner last remaks are for sure not a positive sign of this guy helping the economy!
We just herd Boehner wants to include the Obamacare for modifications in the discussion of the Fiscal Cliff. Now we know for sure he thinks he is the President of the USA since 2008, and President Obama is just a name in the political front. He insists in no tax increase for the rich, and emphatically suggests cuts for the entitlements programs. He obviously inherited the near by spirit of Ryan the liar, in the body of Boehner. If the president is not stern, tough, and demanding, and ready to clip Boehner wings one way or another, we will return to the old times that he obstructs the President, and all the Democrats in the House of Representatives that want to help America! Boehner is a plastic hero, telling them in the House Tea Party, and Republicans members led by Ryan; austerity is the only way out of this mess for our country. Boehner keeps falsely saying, “I will not hear of the tax cut for the rich any longer because they are the only ones to produce economic employment gains”. Mr. President, we are with you all the way. They have given us hell for four years, now we are fully behind you, give them hell for good, and for ever, the way we Americas wants it now! Let the 47% of our punished citizens take no more, let your people ride the Fiscal Cliff down together with you, and stop making the rich richer with the sweat of the middle class! It may be hard, and unpleasant, but they need to know, we, the whole country, we will not take it any longer you worthless morons, while the country goes broke because of you all!
Don't even say "raid private pension funds" out loud. It's too scary.
“Researchers are seeing upside and spreading the word” Are these the same researchers who just gave HP the green light to buy Autonomy. A 5 billion dollar mistake and the exec’s at HP didn’t catch it, the Audit team at Deloitte didn’t catch it, and the KPMG audit of the auditors didn’t catch it-SERIOUSLY.
The mess in the West continues, LIBOR, the Chase whale, and now Autonomy.
It appears Shakespeare is alive and still turning out tragic comedies.
Maybe these “Researchers” are like Moody’s, S&P, and Fitch who in 2008 gave AAA ratings to the mortgage securities brokerages were selling. Buy, Buy-Bye.
I like specifics, - who are these researchers exactly and what is the source of their optimism?
I have a very weak buy signal for both the the US general stock market and the oil service stocks.
Both signals are subject to false alarms as is any detector that is vulnerable to random noise.
Katrina was a killer.
Bears and Bulls are what makes a Market, you are correct...
Guess also, correct is that Liberals and Conservatives tend to Invest..at least in something ?
Ma's and Pa's, Widows and Orphans, Pension Funds and Gamblers, Manipulators&Scumbags.
Yup it can make a Market, an Economy and in essence our Great Country...
Think I hear a table calling our name, time to color down some money into chips...
Have a Great Day...And have a better Thanksgiving Day, best wishes..
I predicted the dow would go to 14,000 by Christmas back in Sept. This article seems to support my prediction so I like it. After all what could be more important then being right on an internet discussion board?
Seriously negativity beguts negativity. All this gloom and doom is based of if's. If europe can't get its act together, if USA goes over the cliff. How about what if the deals get done? The markets will go up and it will be manipulators and speculators right, couldn't be any other reason.
You guys are making it VERY Difficult....For CGT1 to find us and give the Mid-Day Market reports on scumbags...
Just in case, here 'tis..... Looks like the GOOD GUYS (like me) are still in control...
Scumbags beaten up, laying on floor bloodied and crying..
Some Gold and Goldminers up...
Retail and Home Imp...looking okay...
Gaming looking good..
Tobacco and Oil.... in the Green.
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