Pockets of Positive Action

Darn, this market doesn't want to come in. Really annoying. This gold rally seems to daunt no one, even as I dislike markets led by gold, and in this case it is augmented by ag plays like Deere (DE - commentary - Cramer's Take).

The most salient issue today is the debate between Doug and Justin over CVS (CVS - commentary - Cramer's Take) and the pharmacy benefit managers, with Doug saying that CVS is losing share to MedcoHealth (MHS - commentary - Cramer's Take). I think CVS really stumbled when it bought Caremark, just when it had a chance to bury both Walgreen (WAG - commentary - Cramer's Take) and Rite Aid (RAD - commentary - Cramer's Take). I think that MedcoHealth is taking share, but I worry about major contracts coming up in several years that could wreck margins for all players.

Away from that group, I see that people are coming around to the concept that Wal-Mart (WMT - commentary - Cramer's Take) was oversold on its so-called bad number, which I regarded totally as a function of too-high expectations, not a diminishing sales quotient.

I also like the cycling back to the Schering-Plough (SGP - commentary - Cramer's Take)/Altria (MO - commentary - Cramer's Take)/Johnson & Johnson (JNJ - commentary - Cramer's Take) slow-mo sector, and I am surprised and befuddled at how General Mills (GIS - commentary - Cramer's Take) could be down on its terrific statements made earlier in the day. Many people thought General Mills would raise guidance. They were on my show earlier this week and said that they are standing by guidance. Anyone who would be disappointed in their talk and is selling is being pretty obtuse.

I remain skeptical of the skeptics in biotech and like Celgene (CELG - commentary - Cramer's Take) ahead of next week's presentation.

Random musings: Earlier today, a guest on CNBC was saying to ring the register on a suggestion to buy Transocean (RIG - commentary - Cramer's Take) from a week ago. I am on board on that one!

At the time of publication, Cramer was long Celgene, Deere, General Mills, Johnson & Johnson, Altria and Wal-Mart.

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