I would be saying, "Stocks are hideously overvalued here, but if they aren't, the Fed better tighten last week because inflation will rage."

These are the kinds of things that I am hearing from those who need the market lower.

Don't forget, I don't think that's a sin, no more sin than those who need the market higher. The longs are motivated and so are the shorts, and the rights of both should be hallowed.

I am simply pointing out that arguing in the alternative works in court, but it should not work in the court of money, and I think the logic in these arguments is specious, even as I champion the rights of the bears to talk the market down any time they might wish to. Of course, these are all macro arguments, ones that I often tire of. I am more willing to consider the notion that you can't have your bearish cake and eat it, too. You can't presume that things are horrible and then argue what should happen because they are good.

It just makes you no money.

Random musings: Lots of upgrades and positives are really being ignored here. Let me count 'em. NetApp's (NTAP - commentary - Trade Now) positives are not translating into any other techs, as if it is zero sum. All the good chatter about Microsoft (MSFT - commentary - Trade Now) is being ignored for the big hoopla of the Bank of America (BAC - commentary - Trade Now)/ Merrill chip downgrade. Go get the ThinkEquity piece to counter it.... Deere's (DE - commentary - Trade Now) target was raised by Jefferies, yawn. Just pointing out what's being obscured by the commoditization of stocks.... If General Growth Properties (GGP - commentary - Trade Now) has pizzazz, where's the commercial real estate crash? When? When?... Shocker, mortgage delinquencies are up. They correlate perfectly with job losses.

At the time of publication, Cramer was long Bank of America.

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