Bulls Lead the Way, Leaving Analysts Behind

What we have here is a "right back at ya" market, meaning that when it gets hit, buyers come in and don't stop until stocks are higher and they have made their voices heard.

The voices are saying, "We do not believe the negativity of the analysts." They are rebellious, saying, "We don't believe you who kept us out of J. Crew (JCG - commentary - Trade Now) with a sell recommendation," as Goldman Sachs did. They are protesting that they know more than the analysts who haven't bothered to raise numbers for Google (GOOG - commentary - Trade Now), even though they are most likely too low.

They are telling all of the analysts who said oil was going to $25, "Thanks for nothing." They are saying to those who think that China's done, "Come look at Joy Global (JOYG - commentary - Trade Now) and Bucyrus (BUCY - commentary - Trade Now)," the best plays on Chinese infrastructure.

They are saying, "Count me in on the housing recovery with Whirpool (WHR - commentary - Trade Now) and Fortune Brands (FO - commentary - Trade Now) and Masco (MAS - commentary - Trade Now), not out."

They are saying, "Don't you see, media, that the story isn't the demise of General Motors (GM - commentary - Trade Now), it's the resurrection of Ford (F - commentary - Trade Now)," up almost a point from where hundreds of millions of shares were sold.

This is an explosive market which remains hated because not enough puts are being bought, because there's not enough volume, because there isn't confirmation of this or enough hatred of that. I've got some bad news for those who are thinking like this: You won't get your confirmation until we are higher, maybe much higher.

In the meantime, the dips are still to be bought, and the bears have more to prove than the bulls who believe their own eyes not what they see in the papers, on the Web or on TV.

At the time of publication, Cramer had no positions in stocks mentioned.

ALL JIM CRAMER BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

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.

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.