Bears, We Miss You

We need some doomers and gloomers to go higher here. I didn't hear any this week and it is worrisome. Without some avowed bears, we could be stalled here until we see some earnings even as seasonally this is a terrific time.

I say that because as I looked for things to talk about on tonight's show, I was hoping to find some stocks where there have been big negative bets made and really couldn't. Natural gas had been thick with bears and those stocks are still going down, but I don't see a lot of bearish bets being made. We had some in retail, but post-Bed Bath & Beyond (BBBY - commentary - Trade Now) they seem to have dried up. Tech? Boy, I don't see any bears at all going into what should be a remarkably negative period, at least historically.

Most important, we are seeing story after story now about how much the banks are going to make. With the only real bets being made against the banks of the daytrading variety, I feel we are going to need some monster put-buying and shorting to have the big moves I am looking for.

Still, those stocks make the best bets. Wells Fargo (WFC - commentary - Trade Now) and Bank of America (BAC - commentary - Trade Now) going into the second half -- you have to be there.

When I saw Ron Insana today over at CNBC -- and I am incredibly excited about the work he is doing here -- we agreed: Deflation means buy banks. Just so right.

Random musings: If you aren't reading Ron, you are missing the best we have. Spot on, making money for readers consistently and a joy to read.

At the time of publication, Cramer was long Bank of America and Wells Fargo.

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Know What You Own: Major financial stocks include JPMorgan Chase (JPM - commentary - Trade Now), Citigroup (C - commentary - Trade Now), US Bancorp (USB - commentary - Trade Now), Deutsche Bank (DB - commentary - Trade Now), Morgan Stanley (MS - commentary - Trade Now) and Goldman Sachs (GS - commentary - Trade Now). For more on the value of knowing what you own, visit TheStreet.com's Investing A-to-Z section.

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At the time of publication, Cramer was long Bank of America and Wells Fargo. 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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