Market is surprising to the upside
And that's not what's supposed to be happening right now.
Right now I had marked that we should be ready for a Greek default. It is hard to imagine, but during the discussions about the last Greek bailout, the supposition was that Greece would fail to pay this week, which would cause Italian and Spanish bond yields to spike.
Where did that forecast get you? Yet it is entirely possible that people kept out of the market or hid in Treasurys waiting for this day to pass.
Or Urban Outfitters (URBN). I figured blah. No more than blah. Turnaround. Worried still about why Glenn Senk left or was pushed. Just seemed like a weak retail story after years of expecting good things. What can I say? We got great things, with direct to consumer and Free People doing well. Free People? Up 12%. The turn is not only complete, but URBN is becoming a leader once again, a three-headed leader that had previously lost its way.
One that I thought would have nothing but negative was Nordson (NDSN). Here's an American company with worldwide tech and industrial coatings businesses, just one of those companies that were supposed to miss, at least on sales and probably on earnings. It not only didn't miss, it reported superb earnings and sales in both units, with even Europe coming in strong.
Now, naysayers could say look at that shortfall at Tech Data (TECD) and think about that supermarket having all sorts of problems. But the commentary was quite positive, including decent growth in Europe. And while the company had no problems saying there was plenty of weakness, it also said currency and gross margin pressure -- not sales -- caused the shortfall.
Overall, you are simply getting surprised to the upside when you expect the downside, and that's not what's supposed to be happening right now.
Don't worry, we will soon hear the litany: low VIX, low volume and add in the horrible month of September -- isn't it always? -- and you will have enough to keep you out again.
Last night when I said good things about the market, I went on Twitter -- big mistake -- and saw many "now he goes positive" and "Cramer's bullish, time to short."
Boy, people can be morons. To bet against me has been to lose, except for in 1998, at least in terms of relative performance in the market. I started managing money in 1979. Last I looked, that's a long streak.
But it reminds me, again, that people want out in the worst way and that unless you are Peter Thiel dumping hundreds of millions of dollars in Facebook (FB) stock, you didn't get a great case to sell, at least coming into this morning.
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 has no positions in the stocks mentioned.
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"Boy, people can be morons." - Cramer
...and you're "King Moron" Jimmy boy. There have been many whom have tracked your "winning track record" Cramer, and lets just say, a blind monkey on crack throwing darts at stock charts could do better. You are truly at perfect fit at CNBC...shill corporate hack!
Cramer ,what is so surprising about the speculators and the wall street people jacking the jaws of the American people by raising the oil and gas prices, besides trying to raise the food prices. You all are cutting your own throats, because if you have autos or eat then it will affect you all also. I somehow doubt you have a car or even eat. This would NOT surprise me.
The oil and gas went up because Labor day is coming up and the greedy oil companies and the wall streeters want to make a bundle by stealing it from the American people.!!!!!!
Hey Jim......When the FED continues to print BILLIONS of "free" dollars EVERY month, of course the market will be high. Everything is propped up by all this money being printed out of thin air. And once the printing presses stop, and they will eventually, EVERYTHING will collapse. The dollar will be good for one thing.....to wipe our A$$e$ on. But your the Expert. I'm one of those Morons.
And i'll add that IF Obama loses this election, he will use all his power to persuade the Federal Reserve to shut down the presses in January so very shortly after Romney ( IF he ) takes Office, then all hell will break lose and Obama can say " I told you so ".
I am waiting for the headline "Market tanks on Cramer's positive outlook"
But I am expecting something more like "Cramer claims victory as market tanks, because he said "That's not what is supposed to be happening right now."
Cramer, you are a joke. Get a real job instead of being an errand boy for Goldman, JP, etc.
How is that Tech rally that the Facebook IPO started doing Cramer? You know the big rally you were touting just before the fiasco of the FB offering.
To bet against you is a sure thing-The only people who are morons are the ones who follow your advice.
Well yes, it is amazing that Crammer still has a job with CNBC. So, this would be a downside to the market upside. What stock is Crammer trying to push today that he is unloading for one reason or another....
Market is Ruining the American economy, just as it did before, but this time it will be worse, because a lot of you investors will lose it all to the big boys that control the markets.
Just like 2008 it will be a bust!
Need to bust the hedge funds , speculators and bankers.
''Boy, people can be morons. To bet against me has been to lose, except for in 1998, at least in terms of relative performance in the market. I started managing money in 1979. Last I looked, that's a long streak.''
Laugh my F...ing a.. off! Now Cramer thinks he is Bill Miller or someone along those lines. What a statement to make when he doesn't even publish his performance on his site. If there were even one ounce of truth to this statement this loser wouldn't be busy trying to sell his worthless newsletter for $700 a pop, he would be making money hand over fist and not be busy trying to con people every day for a living. Does false advertisement apply to the crap that comes out of his mouth since he is selling a product?
Wouldn't it make more sense to comment on why the Dow went down 68 points and maybe comment on if you are still bullish on this market? I don't get anything from this story except there are winners and losers. What good is that for me to trade on tomorrow?
"To bet against me has been to lose, except for in 1998, at least in terms of relative performance in the market. I started managing money in 1979." <--- We know all your illegal rumor spreading to play the game. You're not the only worthless leach that played that game, and as far as I'm concerned all your ill gotten wealth should be stripped away and you should be serving time for your crimes. Worthless piece of crap who sucked our country dry.
"Last I looked, that's a long streak." An old lady play black jack gets lucky. One old lady has one the grand lotto 3 times.
Forget it. You're a clown, and your highly criminal who should be hanging from a tree.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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