Stocks still under European rule

We're willing to buy companies that report strong quarters only if the news out of Europe is also good.

By Jim Cramer Nov 3, 2011 10:55AM

the streetSurprise? Or no surprise? I am talking about the rate cut Thursday morning in Europe, which signaled to many investors that the new chief central banker, Mario Draghi, is going to try to put out the economic fire while governments deal with the debt issues at hand.

 

I think it's obvious that we rallied Wednesday because some people knew this was going to happen, so the euphoria quickly died down and we are left with, alas, the ISM report on services in this country, which was disappointing; retail, which was really disappointing; and some earnings reports that were exceptional, like Qualcomm's (QCOM).

 

So we are striking a balance. Less bad news out of Europe, less good news out of the United States. But because the U.S. is less important than Europe and the last word out of Europe was good, then we do better.

 

In the end, we are in a moment when we will buy stocks that have good quarters if Europe is higher or there is good news there, and if Europe is ugly we will sell them even if their quarters are good.

 

So Europe first, then America. Same old, same old.

 

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Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.

 

jim cramer
Jim Cramer
is a co-founder of TheStreet and contributes daily market commentary to the financial news network's sites. Follow his trades for his charitable trust.

10Comments
Nov 3, 2011 2:42PM
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Jimmy : This Europe  issue is old .I did not read anything but you headline, .  jimmy I'm looking for more, from you . not second day poop that means nothing, . What I want to know is why, would some super stock man not let his cramerican in on( MDVN ) Medvation ,they are only up 130% today .. this is what cramerican want and need  .  stop  with the news boy, BS , and find a deal .

find a deal or shut the f up. form the dudleyville ditchdigger hasta nunca

Nov 3, 2011 4:03PM
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to chris

cramer is finding deals, every time he sniffs a ceo's shorts he is signaling you to short the stock,  he is tricky

Nov 3, 2011 3:51PM
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cnbc closet political party hacks.kiernan,sorkin,cabrerra,kudlow shills for wallstreet and poor reporting with own agenda in mind. sell cnbc and watch bloomberg. Buy American and support our Troops.
Nov 3, 2011 2:08PM
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THE IDIOT STATED THAT HIS HIGH YIELDERS ARE BULLET PROOF

 

RESEARCH NUCOR ABOUT A YEAR OR SO AGO WHEN HE LICKED THE CEO AND WAS ASSURED THE HIGH DIVIDEND WAS SAFE............ONLY TO SEE THE DIVIDEND GET CUT

AND THE STOCK TANK

 

YIELD IS MINIMAL PROTECTION...........BEWARE THE SHYSTER

Nov 3, 2011 4:07PM
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i'm trying to be more like cramer;

in 1776 independance was won

in 1939 WW2 began

in 1945 .....exactly WW2 ended

 

the joke is on me because he gets paid for this kind of garbage and i don't

Nov 3, 2011 10:40PM
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Whats the point of even writing an article.  At whaty point will MSN actually insist on intelligence!!
Nov 3, 2011 4:41PM
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@ Socialist !: Remember , I am just a ditch digger from Dudleyville AZ ,I did Graduated  from the  8th grade just like Jethro Bodine , but  I think you might have something . My problem is I can only watch Jimmy until the first commerical.. I will pay more attention to the next CEO wizzard ... Go Socialist 1 Go   
Nov 3, 2011 2:02PM
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the sun comes up and the shill lets out more meaningless commentary

meanwhile some of us trade the swings and make a killing with options and indexes

 

don't forget that with indexes you have far less exposure to bad books ,bad ceo's, and BAD CRAMER INDIVIDUAL STOCK GAP DOWN LOSERS

Nov 3, 2011 6:56PM
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Get up off the linoleum floor Cramer.

Nov 3, 2011 12:12PM
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Buy stocks-Sell cnbc (political hacks-shills).Buy American support our Troops.
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