DOW
loading...
NASDAQ
loading...
S&P
loading...




Action Alerts PLUS
RealMoney Silver
Top Gun Trader
Stocks Under $10
Options Alerts
Top Stocks
View All


Now, enjoy the good life every day!

RSSRSS FEEDS
PODPODCASTS


RealMoney.com: Jim Cramer Blog
Print This Story

Embrace the Bullish Sea Change

By Jim Cramer
RealMoney.com Columnist

7/30/2008 4:07 PM EDT
Click here for more stories by Jim Cramer
 
Try Jim Cramer's Action Alerts PLUS
CLICK HERE NOW

Yeah, it's really coming together. A combination of no recession and diminished recession fears is making me realize that we are at a special moment.

 
A moment that could be a real bear killer. No one believes, but you have to admit it's a special moment when earnings are holding up for all but the financials -- Bloomberg says they are up about 8% -- and the financials are getting their act together.

I am listening to someone who is saying the financials are a sucker's game, and I come back and say, "Wait, you price 380 million shares of Merrill Lynch at $22.4 and it trades like a red-hot IPO!

More important, when was the last time that we saw oil up and, well everything else up? When? When? That's the ultimate tell of today. After a huge day yesterday, we got a huge day today despite a big oil rally. When Avon (AVP - commentary - Cramer's Take) and Procter (PG - commentary - Cramer's Take) and Exxon (XOM - commentary - Cramer's Take) and National Oilwell Varco (NOV - commentary - Cramer's Take) can go higher, when Goldman (GS - commentary - Cramer's Take) and Occidental Petroleum (OXY - commentary - Cramer's Take) ramp, you've got a real sea change in the works.

I'd embrace it. Seems really different from all of the other selloff-then-rally stuff we've seen in the last year, a year of pain maybe at last yielding to gain.

At the time of publication, Cramer was long Goldman Sachs, National Oilwell Varco and Procter & Gamble.


Has the stock market bottomed?

Yes
No





ALL JIM CRAMER BLOG ENTRIES | READ COMMENTS  


 RELATED STORIES

Jim Cramer Blog
Banks Keep Rolling Along
7/30/2008 2:05 PM EDT
The move in financials is still in effect, despite what oil is doing.

Jim Cramer Blog
You Can't Deny the Positive Signs
7/30/2008 12:34 PM EDT
Gold is plummeting, banks find a way out, and railroads are hitting 52-week highs.

Jim Cramer Blog
Despite the Uptick, Oil's in a Bear Market.
7/30/2008 10:52 AM EDT
Until drivers hit the road again, energy prices will keep weakening.



Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

TheStreet.com has a revenue-sharing relationship with Amazon.com under which it receives a portion of the revenue from Amazon.com purchases by customers directed there from TheStreet.com.



Brokerage Partners



Write us!
Order reprints of TSC articles.

Investor Relations | Privacy Policy | Terms of Use | Conflicts Policy | Corrections | Internet Index | Advertise | FAQ
Site Map | Who's Who | Reader Feedback | Employment | Contact Us
RSSSubscribe to our RSS Feed
© 1996- TheStreet.com, Inc. All rights reserved.
TheStreet.com's enterprise databases running Oracle are professionally monitored and managed by Pythian Remote DBA.