3 wrongs don't make big gains right
Chartists, analysts and the public missed the boat on some key earnings. How else can we explain these market moves?
Maybe the holders know nothing. Maybe they are spooked at every turn. Maybe they are all micro guys turned macro. Maybe the research out there is so bad that they make decisions based on faulty information.
How else can we explain these post-market moves on OK earnings?
The first, IBM (IBM), is incredible. I heard endless chatter that the quarter would be missed because the revenue would be weak. At the same time there was a relentless downbeat tone about the chart. The chart! Sure enough, sales fell 3%, but the number is $15.10 now, not $15, and when you have a stock that has cratered like IBM on what was supposed to be an earnings miss, revenue being the incomplete way of looking at this software and consulting company, you get the kind of ramp we're seeing now.
How about eBay (EBAY)? For weeks some research outfit I will not deign to even mention had been peddling a story about really soft merchandise sales. Every time the stock would lift, I heard the rumor and it always seemed so rigorous. It was all phony. Although the charitable trust is in it for PayPal, merchandise sales were fabulous. I am blaming a bogus call out of a house that needs commission business for this one.
Then there is Mellanox Technologies (MLNX). This is a tech company that fills a hole in big data/cloud equipment that has been ceded to it by Intel (INTC), its companion in the data center through Intel's powerful Romley chip. I featured this one on Mad Money recently, suggesting that it could be the home run again for the second half of the year after blowing away numbers the previous quarter.
Well, guess what. It did it again, and I have to tell you that I was aghast when the public, our viewership at Mad Money, vastly underestimated this company's ability to repeat and instead voted almost overwhelmingly to anoint Arena Pharma (ARNA) the second-half winner.
So, chartists wrong, analysts wrong, public wrong.
No wonder we saw such huge gains!
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 is long EBAY.
More from TheStreet.com
man...........suddenly i received numerous replies to my comments..........seems some craMARcuns don't agree with my postings.........some even question my facts.....
anyone who reads my comments knows that my purpose is to warn people of the cramer scam....
as for my facts ......well.....i always say to look them up and not take my word for it....
the fact is that cramer owns so many stocks he is no more than a mutual fund..........and the facts
are that 80% of mutual funds can't beat the market..........including cramer........they get some right
and some wrong...............THE DIFFERENCE IS THAT MUTUAL FUNDS DON'T SELL ADVICE
TO THE UNWARY AND THEY DON'T MAKE PUMP AND DUMP GAP DOWN PICKS SUCH AS:
1. alcoa, not just another pick but BEST DOW STOCK OF 2011 AT 18 NOW AT 8
2.nyx,not just another pick but STOCK OF THE YEAR IN 2010 AT 96 NOW 30
3.gold ,not just another pick but MUST HAVE AT 1900 NOW UNDER 1600
THESE ARE HIS BEST.............................DISASTROUS
the point about obama is that he doesn't control anything...not oil not gas not business not the markets............politicians are paid to line the pockets of the puppeteers that control them
at the expense of the common folks..............CAPITALISM AT ITS BEST
MSN allows the lonely bot to advertise its scam..............they also allow cramer to promote his scam..
MSN is quickly losing ALL its credibility by being complicit in these rip offs
REMOVE THE LONELY BOT..........REMOVE CRAMER
CRAMER...........who got it wrong? you got it wrong when you said the chart showed "the holy grail"
and you advised your followers to buy..............the market then went down 700 in a matter of days..
PUMP AND DUMP OR JUST ANOTHER BAD CALL?
PEOPLE HATE FACTS WHEN THEY ARE PROVEN WRONG..........
OBAMA TOOK OFFICE AT DOW IN THE 6000'S AND NOW IT IS IN THE 12000'S........
YOU CAN'T ARGUE THAT FACT....THUMB DOWN IF YOU LIKE...IT DOESN'T CHANGE THE FACT
ANY SAVVY INVESTOR KNOWS THAT WHEN OBAMA TOOK OFFICE THE DOW WAS IN THE 6000'S
AND NOW IT IS IN THE 12000'S
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.
Shares of Plug Power took a beating Tuesday after an analyst listed the fair value of the stock at 50 cents.
VIDEO ON MSN MONEY
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.