Market is surprising to the upside

And that's not what's supposed to be happening right now.

By Jim Cramer Aug 21, 2012 9:43AM

Just when you think that there should be land mines, or questionable days you had marked on your calendar, you are getting pleasantly surprised.

 

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.

 


 

More from TheStreet.com

30Comments
Aug 21, 2012 11:12AM
avatar
The reason the market is up is anticipation of more QE.
Aug 21, 2012 11:23AM
avatar

"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!

Aug 21, 2012 12:41PM
avatar
Cramer toots his own horn and the market belly flops.  I love this show.
Aug 21, 2012 12:13PM
avatar

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.!!!!!!

Aug 21, 2012 12:44PM
avatar
Only thing surprising is that cramer has a job.
Aug 21, 2012 2:40PM
avatar

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 ".

Aug 21, 2012 12:11PM
avatar

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.

Aug 21, 2012 2:44PM
avatar
Hey.....Somethings really wrong here.......Where are all the "come hump me" date ads ?  Could we be lucky enough that they all got depressed because "Life is so lonely" and they committed Suicide ?
Aug 21, 2012 11:53AM
avatar

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.

 

Aug 21, 2012 1:00PM
avatar

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....

 

Aug 21, 2012 12:23PM
avatar

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.

Aug 21, 2012 4:44PM
avatar

''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?

Aug 21, 2012 1:52PM
avatar
Just look at the narrow trading range all the indexes are staying at and the run ups minutes before the closing bell.. The Fed. is calling in the favors of the big banks to assist them in keeping the market afloat up to the election. Every day their efforts seem to be eroding. Insider selling into this manipulated market is at levels not seen since 1974. Ben is jumping higher on the pump and running out of steam. Soon the longs will be on the wrong side of the market.
Aug 21, 2012 9:51AM
avatar
With governments everywhere PRINTING money, and interest rates being held at near zero, there are only really two places to invest, Specie and Stocks.  Normally Real Estate would be a good place too, but it is too heavily taxed to profit from anymore.

Thus the only places to park money and not have its value destroyed by government is Stocks and Specie.  Both will do well.  Stay  out of cash and bonds.  Stocks will more higher!
Aug 21, 2012 4:01PM
avatar
Cramer must be bagging an entire secondary portfolio that is opposite of his published advice because my tracking of his predictions are he is only accurate when he is touting yesterdays news. To bet against him is what???? I would call it profitable, obviously his arrogance puts him outside the realm of reality. I guess he has an out in his statement though, "at least in terms of relative market performance". Oh gee ten years ago someone said the market would go up there is a brilliant statement, the trick as a money manager is to pick which ones.. don't think he has that part down just yet.
Aug 21, 2012 4:31PM
avatar

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?

Aug 21, 2012 10:32AM
avatar
JIMMY BOY YOU BETTER STOP EATING THAT BS YOU ARE PUTTING OUT. ITS NOT GOOD FOR YOU!!! I HAVE MADE A LOT OF MONEY SELLING WHEN YOU SAY BYE AND HOLDING WHEN YOU SAY SELL. PLEASE SHUT YOUR PIE HOLE YOU MORON.
Aug 21, 2012 12:39PM
avatar
"Boy, people can be morons." <- And you prove it everyday. 
"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.
Aug 21, 2012 3:35PM
avatar
The market turned negative about an hour after Jim's prediction.
Aug 21, 2012 4:38PM
avatar
HOW can I bet against you Cramer when you are only repeating what happened yesterday or today? That's like trying to put money down on a horse after it has run 3/4 of the track. Nobody will take that bet. You and Mirhaydari need to team up on your articles because he does the same thing. Wait, aren't we overdue for another Mirhaydari piece? I predict President Obama will win re-election by a large margin but the right-wing religious fanatical Congress will remain in power doing absolutely nothing and this alone will crash the stock market for the next four years. My advice is stay away from U.S. stocks and load up on Europe and emerging markets. The U.S. is a lost cause for the next 10 years but China will fill the gap. Look at the GOP Senator who believes in "legitimate rape" if you don't believe that party is full of religious nuts who are using your tax dollars to further their religious agendas to spite the laws against it. Stop worrying about getting closer to the end times and start doing your job and creating jobs for Americans.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

104
104 rated 1
252
252 rated 2
457
457 rated 3
639
639 rated 4
495
495 rated 5
538
538 rated 6
704
704 rated 7
503
503 rated 8
350
350 rated 9
140
140 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
UPLULTRA PETROLEUM Corp10
EOGEOG RESOURCES Inc10
TAT&T Inc9
COPCONOCOPHILLIPS9
DVNDEVON ENERGY CORPORATION9
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.