This is one of those days where I always want to say to the people who don't like the market or think that all is going to hell in handbasket to blow out their stocks into the strength and wait for the much lower prices they think they will get. Why not? You have some strength. You think that Obama's killing the market and there are now 60 known Communist Democrats in Congress and that the stimulus is failing and the jobs are still being lost and there are more huge bankruptcies to come. So leave.
I get the negatives; everyone gets the negatives. They're pervasive and persuasive. The fact that the transports didn't confirm and that the banks failed to rally to their highs -- Wells Fargo (WFC - commentary - Trade Now) not back to $28 and Bank of America (BAC - commentary - Trade Now) only at $13 -- all great reasons to sell. Oh yeah, and oil's too high and there are too many bulls.
But remember, I come back to a simple precept: None of this is new. We all know it. So you are selling on information that is most surely in the market. For me that's difficult. What happens if things get better?
At the time of publication, Cramer was long Bank of America and Wells Fargo.
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Jim Cramer Blog Stay Ahead of the Lagging Housing Index 6/30/2009 9:42 AM EDT Case-Schiller won't give you the all-clear until months after the real housing bottom.
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