As You Can See, Bad News Is Priced In

Terrible article about Cisco (CSCO - commentary - Cramer's Take) this morning. Shouldn't that stock have been clubbed? Consumer spending is going down -- how is MasterCard (MA - commentary - Cramer's Take) up? We hear about endless pressure in investment banking, but Morgan Stanley's (MS - commentary - Cramer's Take) up again?

To me, these are excellent signs that bad news is included in a ton of stocks.

Now we know that there were heavy shorts out there, including ones put on right here, this morning, when the market didn't open down much. Seemed like a good opportunity to put stock out. In fact, the only good news this morning was The Hartford (HIG - commentary - Cramer's Take) beating the numbers.

Good news is something: The stock doubled!

Oh, and for the first time since I made the call, I began to think that I am being too late in calling for a housing bottom in June of 2009. There is way too much stimulus out there for the inventory not to be sopped up and the buyers coming out from the sidelines, as they should no longer fear losing money right after they buy.

At the time of publication, Cramer was long Cisco.

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Know What You Own: Other stocks that gained ground today included Citigroup (C - commentary - Cramer's Take), Microsoft (MSFT - commentary - Cramer's Take) and Intel (INTC - commentary - Cramer's Take).

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At the time of publication, Cramer was long Cisco. Jim Cramer is co-founder and chairman 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.

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