Bad News Can't Keep This Market Down

Given that we are headed into a crummy month, given that we are experiencing a potential pandemic that is shutting down a whole country next to us, given that we have seen only "beats" that are of the lowered-bar variety (I don't care about that but others do) and given that we are seeing dividend cuts left and right, has it occurred to you that we should be down huge?

Isn't that the real issue? Why the heck aren't we down gigantically? Why aren't we looking ad major dislocations for retail and restaurants in anticipation that people won't go out because of the flu? Why, instead, are the "good" flu stocks like Walgreen (WAG - commentary - Cramer's Take) and CVS (CVS - commentary - Cramer's Take) reacting positively while the obvious sell candidates aren't going down?

Why aren't we shorting every bank stock, knowing that Bank of America (BAC - commentary - Cramer's Take) and Citigroup (C - commentary - Cramer's Take) are in trouble and that they could be big enough to pull down all of the others?

Could this somewhat positive action be about some sort of mark-up for the end of the month?

I think it has to do with just innate strength. It just has to do with a new sense that if you sell a stock down 2 or 3 points on bad news, it turns out to be a mistake. The people who sell on the bad news, the people who sell on the brokerage firm downgrades, are looking foolish. The people who believe in the big bear cases are getting knocked out of the box. The people who feel that tech can't really be coming back are down 7% on their tech shorts instead of being up 7%. The people who sell the bank stocks are now fighting the Fed when the Fed is pulling out every single stop to get this economy moving.

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